Guarantee Declaration as an Alternative to Security Deposit

Instead of a cash security deposit, landlords often accept a guarantee declaration from parents or a bank. Article 7:200 of the Dutch Civil Code permits this provided it offers equivalent security. The guarantee covers a maximum of three months' rent and expires upon termination of the tenancy. The tenant remains jointly and severally liable. Opt for a notarial deed for evidentiary force. Advantages: no need to tie up liquid assets. Disadvantage: strains family ties. If refused by the landlord: negotiate or consult the Rent Tribunal. Compare with deposits at credit unions. Always amend the lease agreement accordingly. (201 words)