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Everything about the security deposit

14 january 2017 - You're a tenant? The security deposit will cover the property owner for any damage you could cause beyond what is normal wear & tear.

Everything about the security deposit

The security deposit covers the property owner for any damage by the tenant beyond what is normal wear & tear.

The security deposit may not exceed 3 months rent (without rates). Contrary to what is the practice is many countries, in Switzerland the owner or real estate agent does not collect the security deposit.

 

YOU HAVE TWO OPTIONS

  • Open a security deposit account in a bank, in your name. This account will remain blocked for as long as you occupy the premises.
  • Take out security deposit insurance with a company that will for a fee, act as your guarantor. The advantage of this system is not to block what could be a considerable amount and to which you maybe will not have access for years. In addition, this type of insurance gives the lessor exactly the same guarantee than the traditional bank deposit account. Our two partners in security deposit insurance are ready to find a suitable solution for you.

Don’t delay, get in touch with them!