What is a rental guarantee?
Once you have found the perfect homefully flat online, you are welcome to submit your application online.
To complete the homefully application process and receive your rental contract, you will need to provide our Community Managers with documents that prove a stable income.
Check our articles here to see what additional documents are needed from your side for a rental contract.
In some cases, you may be required to provide a Guarantor with your application, who would be responsible for paying any shortfalls in rent or for repairs to the property.
You will require a Guarantor if:
Your income is less than 1500 Euro per month, or your total income is less than twice the amount of the monthly rent.
(Example: your room costs 800 Euro and you earn 1500 Euro per month)
You are a job seeker.
You have a temporary or zero-hour employment contract.
Who can be a rental guarantor, and which documents do I need to provide for guarantees?
One of the possibilities to provide a sufficient and ongoing income is to present a rental guarantor. He or she commits to cover the rental costs for the duration of your planned stay with homefully. As your guarantor will be liable for the duration of your tenancy, this role is usually taken on by a parent, grandparent, or spouse.
Following documents from your rental guarantor need to be submitted by the future Community Member to homefully:
- Photo identification – Passport / ID (no drivers license) of the rental guarantor
- Signed and filled out rental guarantee (See attached file here)
- Proof of income from the guarantor – Three consecutive months wage slips or confirmation of benefits received or sufficient bank statements.
Please note: homefully reserves the right to not accept rental guarantees and increase the deposit to ensure sufficient financial security. The rental agreement is completed legally with the Community Member. homefully communicates directly with the Community Member and not with the legal guarantor.
Let us know if this article provided useful information for you. 😊