Hi!
We are currently looking to move and I came across a listing for a place which states: "Stellung der Mietkaution nur durch Bankavale möglich". Can someone tell me what this entails?
Kind regards
Heidi
Bankavale
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Re: Bankavale
Mietaval means that a bank guarantees that they will pay out the Kaution to the landlord, if he needs to claim on that Kaution.
This is usually done if a tenant does not have the money for the Kaution. Instead, he pays the bank a fee of around 4% to 5% per year of that Kaution amount, which is "lost" money.
Please see here: https://www-mietnomadenversicherung-org ... r_pto=wapp
and here for a comparison of providers: https://finanzwissen.de/vergleich/mietk ... ergschaft/