DISCLAIMER: These terms of use are written in English. Translations are provided for convenience only. If a translation differs from or conflicts with the English version, the English version prevails.
1. General Information about the “Keyhole” Service
1.1. This document outlines the general terms and conditions applicable to your registration with Keyhole ApS ("Keyhole", "us", or "we") and your use of the services provided by Keyhole or our partners (“the service”, “the services”). We may also offer additional services and features related to our services. Services may be added, changed, or replaced over time.
1.2. This document constitutes a legally binding agreement between you ("the User") and Keyhole.
1.3. In addition to these terms of use, specific terms apply to each individual product (see section 5 below). Further, additional terms may apply, including those from third parties, for example, if you use the service through one of Keyhole's partners.
2. User Qualifications and Responsibilities
2.1. The User must be at least 18 years old. Legal entities may also use the service.
2.2. In order to provide the User with access to the service, Keyhole must collect and process certain personal data about the User. Please refer to Keyhole's privacy policy for details about the data collected, how it is used, and the User's choices and rights related to this.
2.3. In accordance with the provisions of the General Data Protection Regulation (GDPR), the User has the right to access all information collected by Keyhole about them, provided such access does not undermine anti-money laundering or anti-terrorism measures.
2.4. Keyhole reserves the right, at its sole discretion, to deny service to individuals or companies that have provided false information, misuse or have previously misused Keyhole's services, violate or have previously violated these terms of use, any other terms set by Keyhole, or any applicable guidelines, laws, or regulations.
2.5. If the User uses Keyhole’s services in violation of these terms of use, applicable laws, regulations, or acts in a way that may harm another party, Keyhole has the right, but not the obligation, to inform the affected party of the User’s actions.
2.6. To access Keyhole's services, the User must at all times meet Keyhole's current Know Your Customer (KYC) requirements, including credit checks and identity verification.
3. Know Your Customer (KYC) and Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF)
3.1. To comply with applicable laws and regulations concerning AML and CTF, including the rules of the competent financial supervisory authority, Keyhole is required to conduct KYC checks on all users. This includes identity verification and assessment of financial standing via credit checks.
a. The User is required to complete identity validation. This may involve registering with an e-ID, presenting valid ID, and submitting other relevant documentation.
b. By accepting these terms of use, the User consents to Keyhole collecting and processing information about their financial status through a credit check to assess payment capacity and to offer services responsibly.
c. The credit check may involve gathering information from credit reporting agencies, including payment history, any defaults, and other relevant financial data.
d. The outcome of the credit check will be part of Keyhole’s assessment of whether the User meets the criteria to use the service. Keyhole reserves the right to reject an application for access to the service based on the result of the credit check.
e. The User has the right to know which credit agency was used and to access the data collected, in accordance with data protection laws. Inquiries may be directed to Keyhole.
3.2. All payments processed via Keyhole must originate from a bank account registered in the User's name. The User is responsible for ensuring that all registered information, including payment method and account details, is accurate and up to date. Keyhole accepts no liability for consequences resulting from incorrect or incomplete information provided by the User.
3.3. The User is obliged to continuously update their personal details, bank information, and any ID documents registered with Keyhole. To maintain a high level of security and ensure compliance with national and international rules on combating money laundering and terrorist financing, Keyhole may periodically require the User to submit additional documentation for verification. If a User does not comply with such a request from Keyhole within 30 days, Keyhole reserves the right to suspend the User’s access to the services until satisfactory documentation has been received and approved.
3.4. Keyhole reserves the right to refuse to provide the service to any person or entity, and to refuse to carry out payments to or from any party that is subject to international sanctions or that does not comply with applicable international sanctions and associated regulations. “International sanctions” means sanctions, economic restrictions, export or import bans, trade embargoes or other restrictions that are imposed, administered, approved or enforced by the United Nations, the European Union, the United States of America, the United Kingdom, the Kingdom of Norway or their competent authorities, as well as administrative freezing of assets ordered by the police.
4. About Keyhole’s Services
4.1. This agreement regulates the relationship between the landlord, tenant, and Keyhole. The terms of this agreement and its application must at all times comply with applicable tenancy legislation. Keyhole’s services are exclusively available for use in connection with rental agreements.
4.2. Keyhole has no involvement in the rental relationship between the landlord and the tenant and is not responsible for the rented property.
4.3. Keyhole shall not be considered a party to the contractual relationship established directly between users of the service (for example, landlord and tenant), and does not act as an intermediary or representative for either party in this relationship.
4.4. Keyhole cannot assume the role of either landlord or tenant in a rental relationship, as the company solely provides technical and financial services. Keyhole disclaims all responsibility for trade, transactions, or the overall business relationship between the tenant and the landlord.
5. Keyhole’s Range of Services
5.1. Keyhole offers, either independently or in collaboration with one or more of its partners, the following services:
a. Keyhole Guarantee (See separate terms: Keyhole Guarantee Terms):
A service that enables tenants to move in without having to pay a cash deposit, as Keyhole provides a guarantee to the landlord as a substitute security.
b. Keyhole Rent Guarantee (See separate terms: “Keyhole Rent Guarantee Terms”):
A service that provides financial protection to the landlord against potential non-payment of rent by the tenant, by guaranteeing coverage of lost rent up to a predetermined amount and for a limited time.
c. Keyhole Secure (Separate terms: “Keyhole Secure Terms” will follow when Keyhole Secure launches in Denmark):
A service where the tenant’s cash deposit is managed in a separate and secure account throughout the rental period.
d. Keyhole Split (See separate terms: Keyhole Split Terms):
A service where the tenant’s cash deposit is divided into smaller installments, while the landlord receives the full amount upfront.
e. Keyhole Rental Insurance (See separate terms: “Keyhole Rental Insurance”):
A service that protects the landlord financially against potential rent loss, eviction, and property damage due to breaches of the lease agreement.
5.2. Please note that the availability of the above services may vary by market. Not all services are necessarily available in all geographical areas where Keyhole operates. The user is responsible for checking which services are available in the relevant market. Keyhole reserves the right to change service availability without notice.
6. Right of Withdrawal
6.1. When purchasing services, consumers generally have a 14-day right of withdrawal under applicable consumer protection legislation. The period starts from the day the agreement is entered into.
6.2. The service offered by Keyhole is an integrated solution connected to the lease agreement between landlord and tenant. Please note that if the user exercises the right of withdrawal for this service, it may entitle the landlord to terminate the lease in accordance with the lease’s terms. The service forms an integral part of the tenancy, and withdrawal (including by exercising the right of withdrawal) may be considered a material breach of contract by the tenant, giving the landlord the right to terminate the lease.
6.3. If the user wishes to exercise the right of withdrawal within the specified period, the user must notify Keyhole in writing. Upon receipt, Keyhole will confirm the termination of the service. The user acknowledges and agrees that Keyhole may inform the landlord that the right of withdrawal has been exercised, as this may directly impact the lease. To avoid misunderstandings, users are also advised to contact the landlord directly.
7. Limitation of Liability
7.1. Keyhole disclaims any liability for direct or indirect loss suffered by the user as a result of events beyond Keyhole’s reasonable control. Such events may include, but are not limited to, legislative changes, governmental orders or restrictions, acts of war, strikes, blockades, boycotts, pandemics, lockouts, or similar conditions in Denmark, Norway, or abroad.
7.2. The provisions on strike, blockade, boycott, pandemic, and lockout also apply if Keyhole itself is affected by or chooses to participate in such a labor conflict.
7.3. Keyhole does not guarantee uninterrupted, continuous, or secure access to the service. Operation may be disrupted by factors outside Keyhole’s control, and no warranties are made regarding the service’s functionality or availability. Keyhole is also not liable for damages caused by disruptions, errors, or interruptions in automated data processing, data transmission, telecommunications, electricity supply, other electronic communication or other technical equipment that is not owned by Keyhole and not under Keyhole’s direct control. This also includes other circumstances beyond Keyhole’s control.
7.4. To the extent permitted by applicable law, Keyhole shall not be held liable for direct or indirect damages resulting from the User’s use of the service. Keyhole is not liable for damage or direct or indirect loss arising in cases other than those mentioned above, unless such damage or loss is due to gross negligence or wilful misconduct on the part of Keyhole.
7.5. If a technical error caused by Keyhole or its service providers, or other circumstances outside of Keyhole’s control, disrupts the User’s use of the service, or if the service, due to a technical error, does not correspond to the choices the User has made, the User must immediately inform Keyhole and act in accordance with the instructions Keyhole gives for the service to be considered validly delivered. If the User does not act in accordance with Keyhole’s instructions, Keyhole’s liability lapses.
8. Assignment
8.1. If one or more of the landlord’s properties, for which Keyhole provides services related to the tenant’s obligations, are sold or otherwise transferred to a new owner, or the lease is transferred, all services connected to the property(ies) shall be transferred to the new legal owner. This requires that Keyhole has received written notice by email of the change of ownership or the transfer of the lease, and that satisfactory documentation has been provided confirming that the ownership of the property or the lease, together with the right to any guarantees and any deposit paid by the tenant, has been transferred to the new legal owner or landlord.
8.2. Except as specified in section 8.1, the landlord may not assign their rights or obligations under this agreement to any third party without Keyhole’s prior written consent.
8.3. Keyhole may freely assign its rights and obligations under this agreement to another company, including an affiliate or as part of a business transfer.
9. Property Managers and Other Agents
9.1. Keyhole’s services are available to property managers and other persons who have been authorised by the owner of the relevant rental property to act on the owner’s behalf in matters concerning the property and the relevant tenancy.
9.2. If the landlord is not the legal owner of the properties for which Keyhole’s services are used, the landlord, by accepting these terms, guarantees that they hold the necessary and valid authorisation from the legal owner to use Keyhole’s services for the properties they manage or otherwise control.
9.3. If the landlord is not the legal owner of the properties, the landlord must ensure that the legal owner explicitly approves these terms of use before the landlord is given access to Keyhole’s services for the relevant properties. Documentation of such approval must be provided to Keyhole upon request.
9.4. The landlord agrees to be fully liable for any loss, cost, or claim that Keyhole or other affected parties may suffer because the landlord does not hold the necessary and valid authorisation to act on behalf of the property’s legal owner.
10. Payment
10.1. Users must pay a fee for the services provided by Keyhole. Fee information is available when the service is set up and during payment. Note that any claims against the guarantee may result in additional costs for the user.
10.2. If the User has entered into an agreement for the services through one of Keyhole’s partners, and the User’s agreement with that partner governs the payment of fees to Keyhole, the provisions of the agreement with the partner take precedence over the provisions of these terms.
10.3. Billing, payouts, and other transactions are based on data from the lease agreement and are exchanged electronically to ensure accurate processing.
10.4. The User is responsible for ensuring that all payments and transfers are made using a valid payment method in accordance with Keyhole’s current instructions. For recurring payments, the tenant must set up a direct debit mandate (Betalingsservice in Denmark, AvtaleGiro in Norway) or recurring bank transfers as instructed by Keyhole. The User is responsible for the correct and timely execution of all payments and transfers.
10.5. Payment settlement in connection with the lease is handled by PayProff A/S. By accepting these terms, the User consents to Keyhole’s partner PayProff A/S, after receiving the funds, transferring them in accordance with the lease via its escrow solution and informing Keyhole of any missed payments. This information is necessary for Keyhole to manage its services and apply any guarantees under the agreement.
10.6. Any erroneous payment by Keyhole to the User must be refunded to Keyhole immediately. The repayment obligation arises when the parties agree on the error, upon a final court judgment, or upon a decision made in a dispute resolution process. Keyhole reserves the right to offset any repayment claim against future payouts to the User.
11. Intellectual Property
11.1. All intellectual property rights related to Keyhole (including but not limited to domain names, patents, trademarks, and copyrights) belong to Keyhole or its partners. You may only use these rights if explicitly stated in a separate written agreement with Keyhole or the rights holder.
12. Communication
12.1. We will communicate with you in English, Danish, or Norwegian, as per your choice.
12.2. Keyhole primarily communicates with you via email to your email address unless otherwise agreed. You may opt out of such electronic communication by contacting Keyhole. You must immediately inform us of any changes to your contact details.
13. Complaints
13.1. If you need to make a complaint, you can contact Keyhole by email. More information about the User’s right to complain and Keyhole’s complaint procedures is available on Keyhole’s website.
13.2. Any dispute arising in connection with this agreement that cannot be resolved amicably between the parties or between Users shall be settled by the ordinary courts or the competent rent tribunal (Huslejenævnet in Denmark, Husleietvistutvalget in Norway).
14. Governing Law and Jurisdiction
14.1. This agreement is governed by Danish law, and any disputes shall be resolved by the Danish courts. This does not deprive consumers of the protection of the mandatory rules of the country in which they live.
15. Other Information
15.1. Under applicable insurance distribution rules (in Norway, sections 1C-4 and 1C-5 of the Insurance Contracts Act), customers must be informed of certain matters regarding the insurance company and the distribution relationship. This information is available to users on the following page: Complaint information.