Tenant Guide: Security Deposit Account in Germany

As a tenant in Germany, you should know how to open and document a security deposit account in a legally secure way. This guide explains in clear language which documents you need, how to keep payment receipts safely, and which legal foundations apply to rental deposits. We show practical steps to open an account at a bank or savings institution, how to request separate account handling, and which deadlines to observe for repayment or accounting. At the end you will find common questions, a short step-by-step instruction, and official help sources so you can enforce your rights in case of retention or delay of the deposit.

What is a security deposit account and why keep it separate?

A security deposit account is a securely managed account where the rental deposit is held. It is important for tenants: the deposit legally belongs to the tenant, must not be mixed with landlord funds and should earn interest. Specific rules on amount, investment and repayment of the deposit are set out in § 551 BGB.^[1] Documentation protects you if deductions or interest become disputed later.

Open a deposit account: before you go to the bank

Prepare these documents: tenancy agreement, ID, account IBAN and the exact deposit amount. Clarify with the bank that this is a trust-held rental deposit account and note the account name and number. Request written confirmation of the account opening and account statements upon deposit.

• Check the tenancy agreement for the deposit clause.
• Schedule an appointment with the bank and clarify the account purpose.
• Create and copy the deposit receipt immediately.

Important: payment receipts and documentation

Keep every proof of payment: transfer receipt, receipt or the bank statement. Photograph receipts and store them in a dated folder with descriptions. Without proof it becomes difficult later to demonstrate the correct payment.

What to do if there are problems with repayment or deductions?

If the landlord claims deductions, demand a written statement with receipts for each item. Check deadlines: after the tenancy ends the deposit should be repaid or accounted for within a reasonable time. In case of disputes, the local court (Amtsgericht) is generally the first instance.^[2]

Forms and official guidance

For lawsuits or formal letters to the court use the applicable current forms and guidance from the justice authorities. Specific templates for claims or applications can be found on official justice websites; tenancy-related procedures are handled by the local court. We refer to the relevant laws and court authorities as orientation.^[3]

FAQ

When must the deposit earn interest?

The bank usually pays interest on a deposit account; how this is distributed or offset is set out in the tenancy agreement or follows statutory rules.

Can the landlord withhold the deposit early?

The landlord may not withhold the deposit without legal basis. For justified claims he can assert costs after the tenancy ends but must provide evidence.

What if the landlord does not pay?

Demand repayment in writing and set a deadline. If unsuccessful, you can file a lawsuit at the local court.

How-To

1. Make an appointment at the bank and state "rental deposit" as the purpose.
2. Bring required documents (tenancy agreement, ID) and make copies.
3. Make the deposit and request a transfer receipt.
4. Secure the bank statement, save it digitally and inform the landlord if agreed.
5. After tenancy ends, set a deadline and request repayment or an accounting statement.

Help and Support / Resources

• [1] Civil Code (BGB) §551 — Gesetze im Internet
• [2] Federal Ministry of Justice – Tenancy Law
• [3] Justice Portal – Court Information

1. [1] Bürgerliches Gesetzbuch (BGB) §551 — Kaution
2. [2] Justizportal — Zuständigkeit der Gerichte
3. [3] Bundesgerichtshof — Entscheidungen im Mietrecht