Security deposit and right-of-occupancy payment

Refunding the security deposit and right-of-occupancy payment

When will I get my security deposit and right-of-occupancy payment back?

The security deposit and right-of-occupancy payment will be returned within a reasonable time after the final inspection, when the contract has terminated and all other obligations, such as the handing over of the original keys, residence charge payments and care and maintenance responsibilities, have been fulfilled. The condition for refunding the deposit that the original right-of-occupancy contract must be delivered to Avain in order to mark it as terminated.

How much money will I get back?

When you give up your right of occupancy, you will receive the right-of-occupancy payment back. The sum will be adjusted on the basis of the building cost index and the value of possible alterations will be compensated for, if there is amortization period left.

We will refund your right-of-occupancy payment, subject to a building cost index adjustment. When we receive your transfer notice, we will check the building cost index on the day when you made the first right-of-occupancy payment and compare it with the index on the date when you submitted the transfer notification. In other words, the index adjustment is always calculated on the apartment’s first, original right-of-occupancy payment. In addition, the value of possible alterations will be compensated for, if there is amortization period left and the remaining value exceeds EUR 100.

Can Avain refuse to refund the security deposit and right-of-occupancy payment?

Yes, for example, if you have failed to pay your residence charge or charge for utilities, or if you have not taken adequate care for the apartment and it needs to be repaired after you. In such cases, Avain has the right to use the security deposit or right-of-occupancy payment to cover the incurred expenses.