Comparison of rental agreements: Rendin vs regular rental agreement
Comparison of rental agreements: Rendin vs regular rental agreement
If you are considering signing a rental agreement, you can opt for a regular rental agreement draft. But you also have the option of using Rendin's digital rental agreement, which makes renting out easier.
What are the differences between the two options and how to pick?
Shortly:
A regular rental agreement: a self made agreement or a draft that has been found on the internet. To reduce risks, usually a security deposit is used. The landlord or the real estate agent has to prepare the agreement fully.
A Rendin agreement: the agreement is ready right away and in accordance with the law. Creation of the agreement and management of it happens on a digital platform, where best practices have already been applied. A security deposit is not used and the landlord is instead guaranteed by the protection offered via Rendin.
Rendin rental agreement - safe and convenient
✅ Pros:
Wider protection: it includes a cover provided by a well-known insurance company, that provides a security against debts and damages.
Automatic background checks: all tenants go through a credit and payment defaults check which reduces the risk for the landlord.
Digital and convenient: the agreement draft has been pre-prepared and you can add your specific terms to it. The signing and the management of the agreement happens on the platform, which is convenient and simple to use.
❌ Cons:
Only termless agreements: Rendin offers only a termless agreement option to be able to guarantee viable solutions in case of problems. Fixed term agreements are not available.
A service fee: Rendin has a monthly service fee that is not applicable in case of regular rental agreements. The fee can be paid by either of the parties or it can also be split.
Limited possibilities for customization: Rendin guarantees an agreement that is in accordance with the law, but due to limited customization it might not be viable for people who like to set very specific custom terms.
Comparison table: Rendin vs regular rental agreement
Regular agreement | Rendin | |
Protection against debts and damages | ||
Legal support | ||
Platform for agreement creation and management | ||
Tenant background check | ||
Digital rental agreement and signing | Maybe | Yes |
Agreement type | Fixed-term/termless | Termless |
Deposit | Usually required | |
Monthly fee | None | 4% of the rent |
Which rental agreement to choose?
Choose Rendin if:
Value peace of mind & safety: if you want to be sure that your cover for debts and damages is higher than the security deposit.
You prefer digital solutions: if you are looking for a simple and quick process, the agreement is ready straight away and everything is legally correct.
You feel that you'd need guidance: if you're a new starting landlord or would prefer someone to help you in case of arguments. Or if you'd like someone to support you in legal matters.
You prefer transparency: if you wish that your agreement is always up to date and no term comes as a surprise - everything is standardized and understandable.
Choose a regular agreement if:
You want full control over the agreement: you are an experienced landlord who knows legalities well and wants to decide the terms of the agreement full by themselves.
You have a trustworthy tenant: for example, your friend, family or someone who you have a trustworthy relationship with. Might be easier to sign an agreement in the old way with deposit then.
You prefer fixed term agreements: if you plan to rent for a short time and have a very strict wish to use fixed-term agreements, you can do it.
Your budget is very limited: when every euro counts, it might make more sense to sign an agreement where you don't have to pay monthly fees, regardless of the benefits.
Summary
Using Rendin is simpler, safer and more convenient than using a regular rental agreement template. A template offers you more control and customization options if you know exactly which agreement you want to create.
If you want to test out creating a Rendin agreement, you can do that by creating an account by pressing the button below.
Testing it is completely free. You will only start paying once the rental agreement has been signed.
