Bank Guarantee Instead of Guarantor

If you cannot find a guarantor (Fiador) and don't want to pay 12 months of rent upfront, you can propose a "Garantia Bancária". This involves locking a specific amount (e.g., 6 months' rent) in a Portuguese bank account.

The bank issues a document guaranteeing payment to the landlord if you default. It costs a setup fee and a quarterly maintenance fee, but it provides security to the landlord without risking your cash being handed over directly.