Rental Deposit Repayment in Austria: How to Get Your Money Back!
What is a Rental Deposit?
The rental deposit serves as security for landlords and is provided by the tenant when signing the contract. It covers potential rent arrears, damage to the property, or outstanding operating costs. According to the Tenancy Law (MRG), a maximum of six months' rent is allowed as a deposit.
When Must the Deposit Be Repaid?
After the tenancy ends, the landlord must repay the deposit once they have verified that:
- The property was handed over in proper condition.
- There are no outstanding claims (e.g., pending operating cost statements).
While there is no legally specified deadline in Austria, in practice, repayment should occur within six months.
Common Repayment Problems
The repayment of the rental deposit can be problematic. Here are the most common challenges:
- Damage Claims: Landlords withhold the deposit due to alleged damages.
- Outstanding Operating Costs: Landlords wait for the operating cost statement before paying.
- Delays: Some landlords take unreasonably long.
Tip: Document the condition of the property at move-in and move-out, and request a partial payment if outstanding operating costs are causing the delay.
How Much Interest Am I Entitled To?
If your rental deposit was invested "fruitfully," you are entitled to the earned interest. You can calculate this using the following formula:
Final Amount = Deposit Amount × (1 + Interest Rate)^Investment PeriodExample:
- Deposit Amount: €3,000
- Interest Rate: 1.5% per year
- Investment Period: 5 years
Calculation:
- Final Amount:
€3,000 × (1 + 0.015)^5 = €3,230.67 - Interest:
Final Amount - Deposit Amount = €3,230.67 - €3,000 = €230.67
After 5 years, you would be entitled to a repayment of €3,230.67 (Deposit + Interest).
Use Our Deposit Interest Calculator
We have developed a Deposit Interest Calculator that allows you to quickly and easily calculate the earned interest on your rental deposit. Try it now!
How Do I Get My Deposit Back?
Follow these three simple steps:
- Make Contact: Send the landlord a friendly reminder.
- Written Request: Request repayment by registered mail and set a deadline (e.g., 14 days).
- Legal Steps: Contact tenant associations or file a lawsuit if the landlord refuses.
How Kautionsheld Supports You
Kautionsheld helps you enforce your rights. Our platform offers:
- Tools to check if your deposit was properly invested.
- Templates for inquiries to the landlord.
- Legal support for unjustified deductions or delays.
Conclusion
Getting your rental deposit back in Austria can be stressful, but with the right information and good preparation, you can ensure you get your money back in full. Kautionsheld is here to help – try our tools today!