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Old 03.11.2020, 12:39
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Rent guarantees without deposit

Hi all, any advice on these companies - like SmartCaution? Or other suggestions as I can't pay three months rent upfront!
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Old 03.11.2020, 12:44
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Re: Rent guarantees without deposit

SwissCaution
FirstCaution

Two more I know of, the first I've used and the second has a B2B relationship that made me aware of them.
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Old 03.11.2020, 13:12
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Re: Rent guarantees without deposit

RIP 007! Thank you for advice beyond the grave!

And which would you recommend? Or are they all much of a muchness?
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Old 03.11.2020, 14:14
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Re: Rent guarantees without deposit

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RIP 007! Thank you for advice beyond the grave!

And which would you recommend? Or are they all much of a muchness?
I only have used SwissCaution who were the first, AFAIK, to this market. They were fine, problem-free.
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Old 04.11.2020, 11:43
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Re: Rent guarantees without deposit

I used AXA and it was very painless.

https://www.axa.ch/en/private-custom...xoC0IUQAvD_BwE
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Old 04.11.2020, 11:45
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Re: Rent guarantees without deposit

Bear in mind that not all estate agents or landlords will accept them e.g. mine.
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Old 04.11.2020, 12:09
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Re: Rent guarantees without deposit

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Bear in mind that not all estate agents or landlords will accept them e.g. mine.
Indeed, this is the issue. There's no risk for the tenant by using a depositless mietkaution, all the risk is beared by the landlord and they're the ones deciding if it works or not.

Also, 3 months is not common. The usual is 2 months.
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Old 04.11.2020, 19:08
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Re: Rent guarantees without deposit

Awesome - thanks both.
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Old 04.11.2020, 19:12
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Re: Rent guarantees without deposit

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Indeed, this is the issue. There's no risk for the tenant by using a depositless mietkaution, all the risk is beared by the landlord and they're the ones deciding if it works or not.

Also, 3 months is not common. The usual is 2 months.
There is huge risk to the Tennant that the insurance company will come after the tenant......
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Old 04.11.2020, 19:34
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Re: Rent guarantees without deposit

Have used Swiss Caution 3 times without any problems at all
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Old 04.11.2020, 20:17
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Re: Rent guarantees without deposit

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There is huge risk to the Tennant that the insurance company will come after the tenant......

IF you break something above the insured amount?
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Old 04.11.2020, 20:20
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Re: Rent guarantees without deposit

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IF you break something above the insured amount?
Fail to pay the rent & any excess not covered by insurance. It's essentially a fairly expensive loan.
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Old 05.11.2020, 10:41
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Re: Rent guarantees without deposit

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IF you break something above the insured amount?
What insured amount?

At least with SwissCaution there is no insurance involved. Rather than it being an expensive loan as FMF says, it is essentially a paid for guarantor. You are still liable for any damage you cause. Whether you have a separate liability insurance to claim on is completely separate to the rental deposit. I 100% recommend having this insurance and I think most landlords insist on it. If SwissCaution have to pay out, they will chase you for the damage, which you contractually liable to them for.
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Old 05.11.2020, 11:35
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Re: Rent guarantees without deposit

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Indeed, this is the issue. There's no risk for the tenant by using a depositless mietkaution, all the risk is beared by the landlord and they're the ones deciding if it works or not.

Also, 3 months is not common. The usual is 2 months.
I knew a case where the tenant was billed 14K. 8K by the landlord and 6K by SwissCaution (the guaranteed amount to the landlord).
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Old 05.11.2020, 11:56
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Re: Rent guarantees without deposit

Thanks for the eye opening explanation.

If I damage something, the caution company will pay the landlord and charge me the exact amount of the damage. All the money paid to the caution company is just to have access to a pre-approved loan in case of damage? Is that right?

Last edited by Axa; 05.11.2020 at 12:26.
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Old 05.11.2020, 13:17
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Re: Rent guarantees without deposit

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Thanks for the eye opening explanation.

If I damage something, the caution company will pay the landlord and charge me the exact amount of the damage. All the money paid to the caution company is just to have access to a pre-approved loan in case of damage? Is that right?
Effectively your fee is to pay for the loan. But technically not, as the money never is under your control.
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