In the context of a lease, the presence of a ” bank guarantee ” can often be required by the lessor or the agency that represents it. This deposit must be able, in case of unpaid rent for example or damage in the property, to refund the amounts requested.
What are the particularities of the bank guarantee? How can an organization set up a bank guarantee for you? What exactly is this role? What are the advantages and disadvantages of this type of bond? All the answers to these questions in the following lines.
The bank guarantee in a few words
In case of default of the tenant as said in the introduction of this article, the bank guarantee must be able to repay the amounts requested. But unlike a simple guarantor (a natural person) or a joint surety (often the State or a public body), the bank guarantee is no other than a specific bank which then supports the lessee in access to housing, renting or buying real estate.
The advantages and disadvantages to know about the bank guarantee
The advantages of the bank guarantee are therefore numerous. First, the vast majority of current donors require a strong bond to accept the establishment of a lease for example, and what better than a bank to provide all the necessary guarantees. Another advantage of such a system, linked to the previous one, for a tenant: your file will earn more points from a lessor if you can provide evidence of the support of your bank.
Concerning the inconveniences, which are also to be taken into account : the banking establishment still requires a large sum of money in availability on your bank account, in order that this same bank has a guarantee in case of funds to be refunded. Then, the closing of a bank guarantee file can sometimes be long and tedious, very administrative say rather. Disadvantages that must be considered, but are much less important than all the advantages mentioned above.
Then you have to study the different options available to you and see if the use of a bank guarantee can meet your different expectations.