Frequently Asked Questions
What is a Rental Deposit Surety?
Rental deposit surety is an alternative to the traditional cash deposit, allowing you to rent an apartment without paying a deposit to your landlord. Instead, Bingo-Rent provides a surety that acts as security in the event of rent arrears or damage to the apartment. This gives the tenant more liquidity and the landlord additional security for the transaction.
What are the benefits of using Bingo-Rent service?
With a rental deposit surety, you don't have to freeze your funds for a long time, allowing you more financial flexibility. In addition, as a verified tenant, you build your credibility in the eyes of landlords, which can make it easier to find an apartment and negotiate lease terms, including rent.
Does this mean that I don't pay any fees for the rental deposit?
You do not pay a traditional deposit to the landlord, but using Bingo-Rent's surety, you pay a subscription fee for the service. The amount of the fee depends on the value of the rental deposit and the payment model you choose - you can check the detailed calculation in our online calulator. This way you avoid freezing a large amount of money for a long time, and the landlord still gets the security of the transaction.
What happens if I damage the apartment or fall behind on rent?
In case of property damage or rent arrears, the landlord submits a claim to Bingo-Rent. Once the claim is confirmed by the tenant, Bingo-Rent supports the settlement process in accordance with the terms of the surety. The tenant remains responsible for covering the outstanding amount, while the landlord gains assurance of a smooth and efficient rental deposit settlement.
How to use the Bingo-Rent service?
To use our service, approval from both the tenant and the landlord is required. Simply inform the property owner about your intention to use Bingo-Rent and highlight the benefits of this solution.
The tenant must create an account on the Bingo-Rent platform and complete a verification process, which includes identity and financial capability assessment. Once the verification is successful and the landlord gives their approval, the service is activated and the surety becomes valid for the duration of the rental agreement. The registration process is quick and convenient — everything is handled online.
Will my personal data and financial situation be verified?
Yes, as part of the registration process, Bingo-Rent verifies the tenant’s identity and financial capability. We check the accuracy of personal information such as name, PESEL number, and ID document details. Additionally, we use secure banking systems to assess the tenant’s financial stability.
Once the verification is successfully completed, the Bingo-Rent service can be activated. The entire process is transparent and follows financial verification standards similar to those used by banks and financial institutions when evaluating creditworthiness.
Can I use the Bingo-Rent service if I’m renting an apartment with another person?
Yes, it is possible. However, under the rental deposit surety service, only one person can be designated as the primary tenant — this individual goes through the verification process and signs the agreement with Bingo-Rent.
If the primary tenant receives a lower (but not negative) financial assessment, there is an option to include the second tenant in the verification process — with their consent and participation. After both parties are positively assessed, you can use the service together.
The entire process is transparent and follows financial verification standards similar to those used by banks and financial institutions when evaluating creditworthiness.
What if I don’t pass the financial verification? Can I still use the Bingo-Rent service?
Yes, in such cases we offer the option to use a guarantor. If you do not meet the financial verification requirements, you can designate a third party — such as a family member or friend — to undergo the financial assessment process.
If your guarantor receives a positive evaluation, the Bingo-Rent service can be activated. This flexible approach allows us to make the service accessible to a broader group of tenants.
Is the Bingo-Rent service available throughout Poland?
Currently, we are available in major cities and many counties across Poland. If the property you wish to rent is located outside our service area, we will notify you at the beginning of the application process.
We are continuously working on expanding our coverage to make the rental deposit surety service available in smaller towns and new locations in the near future.
What does the Rental Deposit Surety service consist of?
The rental deposit surety service is a modern alternative to the traditional cash deposit. Instead of obliging the tenant to pay a large sum at the signing of the agreement, Bingo-Rent vouches for the tenant, providing the landlord with additional security. In the event of any damages or arrears, the landlord can use the surety, and Bingo-Rent supports the tenant's claim collection. As a result, the tenant does not have to freeze large funds, and the landlord is guaranteed tenant verification and simplified settlement at the end of the lease.
What are the benefits of choosing the Bingo-Rent service instead of a traditional rental deposit?
Choosing a rental deposit surety instead of a traditional deposit significantly increases the attractiveness of the rental offer. Experience from Western markets shows that this eliminates the financial barrier for tenants, which results in a greater number of interested parties and a faster search for a tenant.
In addition, Bingo-Rent conducts a detailed vetting of tenants, and only verified individuals are admitted to the service. This gives the landlord greater security and confidence that their property is in the hands of a reliable tenant.
How do you verify tenants?
We care about the safety of landlords, so each tenant undergoes a detailed verification. We check his identity and financial history using data from debtors' registry institutions. In addition, we use open banking solutions to assess the tenant's financial capacity and payment history. As a result, landlords can be sure that they are working with a reliable and verified person.
What is the settlement of the deposit when the rental ends?
If the tenant returns the apartment intact with no rental arrears, the settlement process is quick and easy - all you need is a confirmation in the Bingo-Rent form. In case of damages or arrears, the landlord reports them in the form and, after the tenant confirms it, Bingo-Rent takes care of the further process - settlement and debt collection. This gives the landlord the assurance of a smooth and transparent completion of the lease.
Can I demand that the tenant use the Bingo-Rent service?
The decision to use a rental deposit surety requires the consent of both the tenant and the landlord. It is a voluntary solution that both parties can accept as an alternative to a traditional deposit, providing greater financial flexibility and security for the transaction.
What is the difference between a landlord and a tenant? Who is who?
A tenant – is a person who rents an apartment to live in and pays rent for it to the landlord.
A landlord – is a person who makes his property available for rent and receives rent income from the tenant.
Is the Rental Deposit Surety model a proven concept in Europe?
Yes, the rental deposit surety model is widely used in Western European markets, where it is a popular alternative to the traditional rental deposit. Its popularity is due to greater financial flexibility for tenants and increased security for landlords, who receive verified tenants.
In countries such as Germany, Switzerland and France, security deposits have become a standard, simplifying the rental process and making it more accessible. Bingo-Rent brings this proven solution to the Polish market, offering a modern and proven alternative to traditional rent deposits.
Is the Rental Deposit Surety safe?
Yes, the rental deposit surety service offered by Bingo-Rent is fully secure and in compliance with the applicable law. The surety is based on a solid legal foundation and is secured by relevant provisions in the regulations, ensuring transparency and credibility of the process.