Moving to a new place is exciting, but it’s also a bit of a bore. The stress of finding a suitable flat or room in the first place, then the packing, living out of the boxes for weeks on end… And talk about the cost of it all! As if housing in big cities wasn’t already pricey enough, you have to amass enough money for a hefty deposit as well.
If only you could somehow rent a room without paying a deposit… Well, it turns out you can! The room rental platform Badi now offers a deposit-free option for all its users, while still protecting both the landlords and the tenants. Intrigued? Read on to learn how the Deposit Free feature on Badi works and how you can use it to rent a room without having to pay the security deposit.
What is a security deposit?
A deposit is a down payment meant to protect the landlord against any damage you could cause in the flat during your tenancy. If you don’t cause any damage and you fulfill all your tenant obligations as stated in the lodger agreement, you get your money back when you leave the flat.
Sounds logical and straightforward, and it largely is. But tenants often dread the mention of a security deposit for two good reasons. One is that it usually equals at least a month’s worth of rent, if not more, which together with the first month’s rent amounts to a pretty hefty sum to pay up front. Depending on your situation, it may be difficult to save up enough money for the deposit, the rent, and the move itself.
And then there’s the potential issue of getting your money back. In most cases, if you’ve been a careful and responsible tenant and you left the place in good condition, you will get your money back when you leave, though you may have to wait for up to two months, depending on your local regulations. But sometimes the landlords tend to argue that a scratch here or a bit of worn off paint there warrants the withdrawal of the deposit, or at least a part of it. You then get into a nasty tug-of-war, where you often end up losing, either money or time, or both.
One thing is for sure, if you do rent a room with a deposit, always make a detailed inventory of what the place looks like when you move in, and attach it to the rental agreement. It’s your best chance of being able to prove what damage you did or didn’t do if it gets to any discussions around it.
But the easier option is to simply rent a room without having to advance any money in the first place. So let’s see how you can do that!
What is Deposit Free on Badi and how does it work?
Deposit Free is exactly what it sounds like – it’s an opportunity to rent a room without paying a deposit up front. As a tenant, all you need to do is look for rooms with the Deposit Free label and book one through Badi.
Here’s how it works:
- You find a room you like that displays the Deposit Free label.
- As always on Badi, you can chat with the landlord through Inbox if you want to get to know them better.
- You book the room directly on Badi – it allows you to benefit from the Deposit Free coverage and keeps you safe and protected.
- You don’t pay any deposit, just our standard service fee. Easy peasy!
Remember to sign a rental agreement
In order for both you and the landlord to benefit from the Deposit Free coverage, you need to sign a private rental agreement. Like any good rental agreement, it should include a detailed inventory of all the things in the room and the state of the facilities. If you or your landlord don’t have one, Badi can send you a template you can fill in with your details. The contract always remains a private agreement between you and your landlord alone.
What if I do cause damage during my tenancy?
You may be wondering: “What if I do happen to cause damage in the flat or need to leave before my contract is up?” Well, in that case, you will be responsible for the damage and you will need to comply with your contractual obligations. Makes sense, doesn’t it? However, you will never be liable for the wear and tear caused by normal use.
So, the bottom line is: you don’t have to pay for anything that you didn’t do, either before you move in or after you leave. You only pay if and when you cause actual damage, but that’s not your plan here, is it?
So head over to Badi and book your next room completely deposit-free!
If you’d like to learn more about the Deposit Free coverage, see exactly how it works from both the tenant’s and the landlord’s side. And for more useful information and inspiring stories about flat sharing, check out some more articles from the Badi Blog.