Deposit-free living? It’s simple and fair!
When looking for a new home, you’ll often come across the requirement to pay a security deposit equal to one to three months’ rent. This can be a significant financial burden, especially if you’re moving for the first time or working with a limited budget. However, thanks to a partnership between Flatform and ČSOB, there’s an alternative that allows you to rent without a deposit.
A guarantee declaration is a legal document in which a third party (in this case, ČSOB) commits to covering any obligations the tenant might fail to meet toward the landlord. This means that instead of paying a security deposit, the tenant provides a guarantee through ČSOB’s declaration of surety.
How does it all work?
1 | Registration on Flatform
The tenant creates an account on the Flatform platform and provides information about the type of housing they are looking for.
2 | Tenant verification
Flatform verifies the tenant’s ability to meet their obligations, including a credit check and payment history review.
3 | Apartment selection
The tenant chooses an apartment from the available listings on the platform.
4 | Contract signing
The rental agreement is signed electronically via Flatform.
5 | Guarantee declaration
ČSOB issues a guarantee declaration, which serves as a security for the landlord instead of a traditional deposit.
6 | Handover of the apartment
Once all formalities are completed, the apartment is handed over to the tenant.
What’s the cost of the service?
Activation fee: 10% of the monthly rent (minimum CZK 3,500), paid once at the beginning.
Monthly fee: 1% of the monthly rent (minimum CZK 250), paid throughout the duration of the lease.
Deposit-free renting via a guarantee declaration from Flatform and ČSOB offers a modern and efficient way to simplify the rental process for both parties. Tenants benefit from financial flexibility and a streamlined process, while landlords gain security and protection for their investment. This model has already proven successful abroad and is now available in the Czech Republic – potentially transforming the future of rental housing.