Deposits
The rules, the amounts, and what you get back
The landlord decides whether security is required for the tenancy, and almost all of them require it. What you can usually influence is the form that security takes. With a guarantee, a third party provides the security and you keep your savings available. So in practice,…
A deposit guarantee is an agreement in which a third party provides financial security for an agreed amount on the tenant’s behalf. The landlord gets security for the tenancy, and the tenant avoids placing the full deposit in a blocked account. The guarantee moves the liquidity,…
When renting a home in Norway, the landlord will normally ask for financial security in case rent is not paid or other costs arise during the tenancy. This security can be provided through a deposit account or a deposit guarantee. Both options can protect the landlord, but they…
When a tenancy ends, the tenant and landlord need to complete the final deposit settlement. If the property has been returned, all rent has been paid and both parties agree on the settlement, the deposit can normally be released quickly. If there is a disagreement, Norwegian law…
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Finding the right tenant is one thing. Setting up the deposit account can be another, especially when the tenant has recently moved to Norway. Many international tenants do not yet have a Norwegian national identity number, D-number or BankID when they are ready to move in.…
Have you paid the deposit directly into your landlord’s private bank account? If so, the deposit was not established correctly. A legal deposit must be held in a blocked deposit account in the tenant’s name. It should not be paid in cash or transferred to the landlord’s ordinary…