In the case of a privately used rental property like an apartment or house, the landlord may require the tenant to provide a rental deposit worth up to three months' rent. This is governed by law. The size of the rental deposit is normally stated in the rental contract. The purpose of these funds is to cover any rental arrears or claims for damages made against the tenant by the landlord.
Rental deposit guarantee: How does the alternative to the rental deposit work?
Our insurance partner GENERALI acts as guarantor for the tenant vis-à-vis the landlord. The tenant saves money and does not have to pay a deposit to a bank. The tenant pays an annual premium. In return, a guarantee is issued to the landlord in favour of the tenant.
What are the conditions for taking out a rental deposit guarantee?
This offer is available to any tenant in Switzerland irrespective of income. Only the following conditions are applicable:
The applicant must be aged 18 or over.
The rental property must be in Switzerland.
A credit check must be passed.
The guarantee may not exceed CHF 20,000.
Who is legally liable in the event of damage/loss?
Under the guarantee, the landlord must specifically demonstrate and prove the damage/loss to the insurance partner. Where the claim is justified, the requested amount is paid up to the maximum amount of the agreed rental deposit. The tenant is then required to reimburse the equivalent amount.
What happens if the landlord rejects the guarantee?
If a deposit guarantee is rejected, AdunoKaution is happy to contact the landlord to explain the scheme. Should the landlord still not accept the guarantee, we do of course take the offer back free of charge. You don't pay a single cent.
How long do the agreements last?
So long as he/she not permanently leave the rented property, the tenant is required to first pay the deposit in the amount agreed with the landlord. Then the tenant may terminate the rental deposit guarantee with AdunoKaution any month after a minimum period of 12 months.
Is a rental deposit guarantee detrimental to my credit rating or credit line?
No! Taking out a rental deposit guarantee does not cause your credit rating to decline by way of an entry with the ZEK credit information agency, for instance. You continue to enjoy a top credit rating with other financial institutions.
Is it possible to request the return of a rental deposit once it has been paid?
A paid deposit may be replaced by a rental deposit guarantee, provided the landlord agrees to this change.
You can find further frequently asked questions here.