Mietkautionkonto banks suggestions

A Mietkautionskonto is a bank account for holding the security deposit for a rental property. Landlords and NOT the renter have to set up such an account. Such a deposit protects the landlord in case the renter leaves with damages or unpaid rent. But many landlords used to simply keep peoples deposit. Such an account also protects the renter that they eventually get their deposit back when they leave. Thus if a landlord has financial problems for example, the money will still be there untouched. There should be some small amount of interest on such an account and different banks have such things on offer. But again, it’s the landlord who has to set up the account. I am posting a link to a site (German only) that gives all of the details.

https://www.basler-mietkaution.de/mietk … konto.html

Do you mean a "Mietkautionsbürgschaft" or "Aval"?
This is an alternative to the classic rental deposit in a dedicated bank account opened by the landlord, which Tom described above.
It means that the landlord does not get the deposit in cash, but a guarantee by a third party provider (often a bank, which does this for a fee that the tenant has to pay) to pay any damages up to a maximum amount (same as the classic deposit) at the end of the tenancy.
Thus it provides the same certainty to the landlord, without the cash required from the tenant.
However, landlords are not obliged to accept this alternative. If yours does, please let us know if this is what you meant.

Thanks for the answer. Actually i searched more about it and it depends on the bank, some do this with the landlord some others with the tenant. In the meantime I have been to Sparkasse and they also allow the tenant to open it, along with some documents that have to be signed by both tenant and landlord and a Sparbuch.

To beppi, no such thing. Just a deposit account where both tenant and landlord are holders and no one can withdraw the money if the lease has not ended.

Alexa91M wrote:

Thanks for the answer. Actually i searched more about it and it depends on the bank, some do this with the landlord some others with the tenant. In the meantime I have been to Sparkasse and they also allow the tenant to open it, along with some documents that have to be signed by both tenant and landlord and a Sparbuch.

Sorry but this is a bit disrespectful. Beppi and I gave concise, factual information. What you have found out only confirms this. Beppi is not wrong; you are just choosing to describe what he said in other terms. Strange someone asks for advice here and then acts like they know better when they actually misstated a number of things which were then corrected. Beppi mentioned that there is another option than the traditional Mietkautionskonto which is ALWAYS set up by the landlord. The option where the tenant can open the account has another name and is only allowed with the acceptance of the landlord. Nothing you say contradicts Beppi's advice.

TominStuttgart wrote:

Alexa91M wrote:

Thanks for the answer. Actually i searched more about it and it depends on the bank, some do this with the landlord some others with the tenant. In the meantime I have been to Sparkasse and they also allow the tenant to open it, along with some documents that have to be signed by both tenant and landlord and a Sparbuch.

Sorry but this is a bit disrespectful. Beppi and I gave concise, factual information. What you have found out only confirms this. Beppi is not wrong; you are just choosing to describe what he said in other terms. Strange someone asks for advice here and then acts like they know better when they actually misstated a number of things which were then corrected. Beppi mentioned that there is another option than the traditional Mietkautionskonto which is ALWAYS set up by the landlord. The option where the tenant can open the account has another name and is only allowed with the acceptance of the landlord. Nothing you say contradicts Beppi's advice.

Sorry but I fail to see how I was disrespectful or arguing with someone or trying to prove that I know better. I thought this community is to share knowledge.
But if you insist here is something to read:
"Der Begriff „Kautionskonto“ ist nur eine andere Bezeichnung für „Mietkautionskonto“ oder auch „Mietkautionssparbuch“. Auf dem Kautionskonto wird das Geld angelegt, das Mieter zu Beginn des Mietverhältnisses beim Vermieter als Mietsicherheit hinterlegen müssen. Es kann von beiden Mietparteien, also vom Mieter oder vom Vermieter, bei einem Bank- oder Kreditinstitut eingerichtet werden."
I also know about aval and I just mentioned I was not referring to an aval, but whatever.

I am landlord myself (as well as tenant previously for many years) and have never heard of a deposit account opened by the tenant. How is it ensured that the landlord can access it (even against the tenant‘s wishes) to cover damages - and the tenant (in whose name it is registered) can only access it with consent of the landlord?
But I do agree that Tom‘s words were a bit harsh.

beppi wrote:

I am landlord myself (as well as tenant previously for many years) and have never heard of a deposit account opened by the tenant. How is it ensured that the landlord can access it (even against the tenant‘s wishes) to cover damages - and the tenant (in whose name it is registered) can only access it with consent of the landlord?
But I do agree that Tom‘s words were a bit harsh.

Hi Beppi,

The sparkasse bank gives you 3 papers that have to be signed by both landlord and tenant, one copy stays at the bank, one for the tenant and one for the landlord. The copies that both tenant and landlord have, have a special section which has to be signed at the end of the lease based on the calculation of what damages have to be paid, if any, and only then the bank is releasing the money. Until then the money are blocked for both tenant and landlord and bank is requesting 3 months notice which is basically the same with the notice of leaving a rented apartment. So this account is like a common savings account but it has to be mutually agreed to withdraw money at the end of the lease.
And just so you know I was not intending to insinuate Aval does not exist, only that I was not referring to an Aval, but I guess English can sometimes be misinterpreted.

Interesting concept, but seems a bit complicated.

Alexa91M wrote:

beppi wrote:

I am landlord myself (as well as tenant previously for many years) and have never heard of a deposit account opened by the tenant. How is it ensured that the landlord can access it (even against the tenant‘s wishes) to cover damages - and the tenant (in whose name it is registered) can only access it with consent of the landlord?
But I do agree that Tom‘s words were a bit harsh.

Hi Beppi,

The sparkasse bank gives you 3 papers that have to be signed by both landlord and tenant, one copy stays at the bank, one for the tenant and one for the landlord. The copies that both tenant and landlord have, have a special section which has to be signed at the end of the lease based on the calculation of what damages have to be paid, if any, and only then the bank is releasing the money. Until then the money are blocked for both tenant and landlord and bank is requesting 3 months notice which is basically the same with the notice of leaving a rented apartment. So this account is like a common savings account but it has to be mutually agreed to withdraw money at the end of the lease.
And just so you know I was not intending to insinuate Aval does not exist, only that I was not referring to an Aval, but I guess English can sometimes be misinterpreted.

So what term is the bank using for this acccount since as it is described here is basically the definition of a "Mietkautionsbürgschaft"? All information I find about a "Mietkautionskonto" says that it is opened by the landlord.

TominStuttgart wrote:

Alexa91M wrote:

beppi wrote:

I am landlord myself (as well as tenant previously for many years) and have never heard of a deposit account opened by the tenant. How is it ensured that the landlord can access it (even against the tenant‘s wishes) to cover damages - and the tenant (in whose name it is registered) can only access it with consent of the landlord?
But I do agree that Tom‘s words were a bit harsh.

Hi Beppi,

The sparkasse bank gives you 3 papers that have to be signed by both landlord and tenant, one copy stays at the bank, one for the tenant and one for the landlord. The copies that both tenant and landlord have, have a special section which has to be signed at the end of the lease based on the calculation of what damages have to be paid, if any, and only then the bank is releasing the money. Until then the money are blocked for both tenant and landlord and bank is requesting 3 months notice which is basically the same with the notice of leaving a rented apartment. So this account is like a common savings account but it has to be mutually agreed to withdraw money at the end of the lease.
And just so you know I was not intending to insinuate Aval does not exist, only that I was not referring to an Aval, but I guess English can sometimes be misinterpreted.

So what term is the bank using for this acccount since as it is described here is basically the definition of a "Mietkautionsbürgschaft"? All information I find about a "Mietkautionskonto" says that it is opened by the landlord.

I don't know. I have told them I want to open a Mietkautionskonto and they understood. They are not offering me a credit, I am depositing the money. It is very similar to a savings account.

Alexa91M wrote:

I don't know. I have told them I want to open a Mietkautionskonto and they understood. They are not offering me a credit, I am depositing the money. It is very similar to a savings account.

Well obviously none of the options mentioned have to do with a credit. They are used to set aside money as a housing deposit.