Rendin is the solution for renting (out) a home and signing secure rental agreements. The landlord has rent and utility payments guarantee with property protection, and the tenant can rent deposit-free.
No, Rendin isn't home insurance, BUT having home insurance with liability insurance is strongly recommended for all property owners. It protects you in situations where the Rendin's cover cannot help and vice versa. If there is no home insurance, the owner is responsible, which can mean paying for thousands of euros of damages. Read more about it here.
Rendin gives the landlord a rent and utility payments guarantee of up to three months. In case of a problem, the owner can be sure they won't miss out on rental income. The problem could be the tenant's debts, the tenant moving out unexpectedly or because of something else.
Rendin also provides asset protection. Furniture, appliances and interior in the rental property are protected against damage caused by the tenant, whether intentional or not.
The greatest benefit for the tenant lies in renting without a deposit. When moving into a new home, the starting costs are significantly lower, as the tenant only has to pay the first month's rent. Without Rendin, the person usually has to pay at least three times the rent. Meaning: the first month's rent, the deposit, and sometimes the agent/contract fee.
As for the landlord, there are Rendin experts available to help the tenant with any concerns or questions. And this is throughout the whole rental period.
Rendin's service fee is 2.5% of the monthly rent, and it's paid monthly until the end of the rental agreement. The tenant pays for our service. By agreement, the landlord can make these payments instead.
Only termless rental agreements can be signed through us because this offers more security and flexibility than a fixed-term contract. For example, a termless rental contract allows both parties to terminate the contract with three months' notice; the fixed-term agreement can be ended only by mutual agreement of the parties or on the date of termination of the agreement.
Rendin has built its background check on checking payment defaults. The candidate passing the background check means they have the necessary solvency to rent an apartment and have no debts to other companies. It's a tool for Rendin because we need to be sure that we trust the potential tenant – we're taking a risk for the tenant, not the landlord.
In general, the background check fails if the system detects a tenant candidate’s problematic payment history (collection claims and debts to service providers) or insufficient solvency (active quick loans and disproportionately expensive rental space compared to income). Sometimes the system may ask for additional checks due to insufficient data. Rendin’s experts can always do a manual check to make sure the tenant candidate's financial background is solid.
In this case, the landlord should send a written notice to the tenant that the debt must be paid within the next two weeks, or their rental agreement will be terminated. If the tenancy is terminated and the property has been handed over to the landlord, but the tenant still refuses to pay, the landlord can turn to Rendin. Under normal circumstances, the landlord receives compensation for the damage within ten days of submitting the claim with supporting documents.
If the landlord has discovered the damage, they must inform the tenant. It would be reasonable to keep Rendin updated as well. Having supporting documentation, such as a properly created Handover Act with up-to-date photos, is required. The first step is to put the responsibility on the tenant and try to reach a compromise. If the tenant isn't cooperative and doesn't compensate for the damage, Rendin will take over the case. The landlord receives the compensation, and a claim is made against the tenant. For more details, please visit our Help Centre.