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Old 25.03.2012, 12:01
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Appartment deposit: What are the differences among these options?

Dear all,

I was given a choice to select among the three options for 3-month rent deposite of an apartment:

- Bank guarantee (garanties bancaires)
- Swisscaution
- Firstcaution

I have read something about Swisscaution. The benefit is basically we could access the money immediately after moving out, but we have to pay premium to the Swisscaution.

I read about blocked account with a bank - the money is blocked till the landlord agrees to release it but the benefit is we get some interest after the rent periode...am i correct? How much does it cost for a guarantee instead?

What about Firstcaution? Is it similar to Swisscaution?

My current take is, if one can afford to wait for the refund of 3-month rent (like when the deposite is not so much due to the rent of a studio), the bank deposit option is the cheapest option? Anything else I should pay attention to?

Thanks for your opinion.

Last edited by jttraveller; 25.03.2012 at 12:03. Reason: .
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Old 25.03.2012, 12:26
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Re: Appartment deposit: What are the differences among these options?

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Dear all,

I was given a choice to select among the three options for 3-month rent deposite of an apartment:

- Bank guarantee (garanties bancaires)
- Swisscaution
- Firstcaution

I have read something about Swisscaution. The benefit is basically we could access the money immediately after moving out, but we have to pay premium to the Swisscaution.

I read about blocked account with a bank - the money is blocked till the landlord agrees to release it but the benefit is we get some interest after the rent periode...am i correct? How much does it cost for a guarantee instead?

What about Firstcaution? Is it similar to Swisscaution?

My current take is, if one can afford to wait for the refund of 3-month rent (like when the deposite is not so much due to the rent of a studio), the bank deposit option is the cheapest option? Anything else I should pay attention to?

Thanks for your opinion.
The money will be put on a blocked account under your name. The landlord never has access to that account. It just gives him the security of knowing there is cash around if you ruin the apartment.
You will get the money back latest a year after the rent agreement has ended, even if there are issues with the landlord.
If you don't need the money straight away, you can leave it there on your own accord up to a year and get some more interest.

Swiss- and Firstcaution only make sense, if one can't come up with the money needed. I don't know how much more you pay with them but as they have to earn some money, it will be a fair bit.

I don't know anything about that bank guarantee...

If you can afford it yourself, pay it your self.
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Old 25.03.2012, 12:45
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Re: Appartment deposit: What are the differences among these options?

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The money will be put on a blocked account under your name. The landlord never has access to that account. It just gives him the security of knowing there is cash around if you ruin the apartment.
You will get the money back latest a year after the rent agreement has ended, even if there are issues with the landlord.
If you don't need the money straight away, you can leave it there on your own accord up to a year and get some more interest.
Indeed, the Mietzinsdepot or blocked account is my first choice, but somehow it is, strangely, not listet as an option. Would an agency actually prefer Swisscaution than blocked account or maybe they miss out in the listing? I shall ask again.

By the way, I read that the landlord can decide which bank to go for the blocked account. I want to try to suggest a bank with a higher interest, if it is possible. Does anyone know where can I find the list of interest generated by blocked account? Somehow I couldn't find it at comparis...
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