General Questions about Rentals - Frankfurt

I don't know Frankfurt well at all so I can't give advice on neighborhoods. But I can give a few other tips.

There is no seasonal advantage to waiting to rent a place. If you find a good place you can afford then grab it. Housing is very tight in most German cities these days.
Be aware that the vast majority of people live in apartments so forget about even looking for a house with yard like most Americans are used to. One might find such a place in a rural community or small town far from a big city and even for a decent price. But anywhere commutable from a big city is hopeless.

Frankfurt is flat so one can extend their radius of a walkable distance by making it a biking radius. But don't be surprised if you end up with accommodation farther away. The distance is often not such a factor as the proximity to public transportation. And it might be better to be convenient to a U-Bahn, S-Bahn  or bus that can get one to work directly than having to change trains and/or buses. But public transportation in virtually any city in Germany is far better than the best public transportation in any American city.

One usually has to put up 3 months deposit on an apartment. I have no personal experience with such a thing so I can only provide you the following info. There is a special bank account “Mietskautionkonto” where the money gets put and nobody can touch it until things are settled when one leaves. This protects both the landlord and renter.  There is a tiny bit of interest earned on the money but a large fee usually taken monthly that adds up to around 50 Euros a year.

This site explains it well (German only)

https://kautionsfrei.de/kautionskonto#vergleich

An alternative is a Mietsbürgschaft which is more like an insurance like you mentioned. From what I've read they are theoretically simpler and slightly but not significantly cheaper than a Miteskautionskonto. But there are different types that either react on the first request of the landlord for supposed damages (auf erstes Anfordern) – or not (ohne auf erstes Anfordern). If they give out the money at first request then you have no chance for a refund if they cheat you. There are advantages and disadvantages and one should be well informed to make such a decision.

See the  provide the following link (German only)

https://kautionsfrei.de/mietbuergschaft … uergschaft

Excellent information!  Thank you so much!

I would like to add three things to Tom's otherwise excellent reply above:
- Termination notice periods for rental apartments and houses in Germany are three months or longer (by law). Most places, especially in the more sought-after cities like Frankfurt, are advertised and quickly taken up soon after the previous tenent submits his termination (or is terminated). Therefore you usually have to sign a rental agreement months before moving in.
- Alternative options for the deposits might look attractive to you, but they all require onsent of the landlord - which might o might not be given. The usual way is still the traditional "deposit given in cash, stored in a special deposit account by the landlord".
- Are you bringing (or buying) your own furnishings and houseware? Furnished apartments are rare in Germany and usually overpriced.