Zero-deposit properties are attractive to those who want to reduce initial costs.
However, just because there is no security deposit does not mean that there will be no exit costs. There are some points you should check before signing a contract.
What is a security deposit?
A security deposit is money you deposit to cover rent arrears and the cost of restoring the property to its original condition when you move out. If there are no problems, the money will be settled and returned to you when you move out.
If the deposit is zero, there is no deposit, so you will have to pay the necessary expenses separately when moving out.
Cleaning fees may be paid in advance
For properties with no deposit, there are cases where cleaning costs are paid in advance at the time of signing the contract.
At first glance, it may seem cheap because there is no deposit, but when cleaning and disinfection costs are added, the initial cost may not be as low as expected.
Beware of additional charges when moving out
In addition to the regular house cleaning fee, additional charges may apply if there is any intentional or negligent staining or damage.
If you don't have a security deposit, you will be charged the same amount when you move out, so it is important to have a photo record when you move in.
Don't make a decision based only on the initial cost
Zero deposit is not a bad condition. This has the advantage of reducing initial costs in the short term.
However, be sure to take into account the moving out costs and contract terms when making your decision.
summary
Zero-deposit properties are convenient, but they don't mean there are no exit costs.
Before signing a contract, it is important to check whether there are cleaning costs, restoration costs, and short-term cancellation penalties. Look at the total cost from moving in to moving out, not just the initial cost.