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deposit to secure sublet

Dear all


I am about to pay a deposit to secure a sublet that will start in 2 weeks time, but since I am not in Geneva, I wonder what is the practice to formalise the arrangement?


In my home country, there would be a deposit agreement to specify that if I don't take up the sublet as scheduled, the deposit would be forfeited; and if the person offering the sublet does not handover the sublet flat as scheduled, he needs to pay me double the deposit as penalty.  I wonder what is the practice in Geneva?  Can the agreement be done by email?


Any tips, experience or links to information would be much appreciated!


 


Many thanks


Kalok

The text you are quoting:

Dear all


I am about to pay a deposit to secure a sublet that will start in 2 weeks time, but since I am not in Geneva, I wonder what is the practice to formalise the arrangement?


In my home country, there would be a deposit agreement to specify that if I don't take up the sublet as scheduled, the deposit would be forfeited; and if the person offering the sublet does not handover the sublet flat as scheduled, he needs to pay me double the deposit as penalty.  I wonder what is the practice in Geneva?  Can the agreement be done by email?


Any tips, experience or links to information would be much appreciated!


 


Many thanks


Kalok


Kalok YFeb 1, 2014 @ 12:55
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Re: deposit to secure sublet
Post 1

Before anything is paid, are you sure this is legitimate? ie does it even exist?

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Before anything is paid, are you sure this is legitimate? ie does it even exist?


Pregny, Feb 1, 2014 @ 13:39
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Re: deposit to secure sublet
Post 2

I have seen the flat on skype and am asking for utilities bill/rent contract of the person offering the sublet. 

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I have seen the flat on skype and am asking for utilities bill/rent contract of the person offering the sublet. 


Kalok Y, Feb 1, 2014 @ 13:46
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Re: deposit to secure sublet
Post 3



I would advise you to wait until you are in Geneva and have been able to meet the person offering the accommodation and also view the premises personally before you hand over any money or conclude any arrangement.


If the person you are dealing with is bona fide, he/she will cooperate.  Otherwise, hold back.  It’s better to be safe than sorry.


All the best, R.

The text you are quoting:



I would advise you to wait until you are in Geneva and have been able to meet the person offering the accommodation and also view the premises personally before you hand over any money or conclude any arrangement.


If the person you are dealing with is bona fide, he/she will cooperate.  Otherwise, hold back.  It’s better to be safe than sorry.


All the best, R.


Ritchie, Feb 1, 2014 @ 14:43
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Re: deposit to secure sublet
Post 4

Thanks Ritchie for the advice - but as you know housing in GVA is so difficult that if I don't put down a deposit the place is likely to go to someone else; if I have this person's name and bank account details (for transfer), together with proof of tenancy of the flat, if he turns out unreachable when I arrive in GVA, would it not be relatively easy for the police to track him down? 


Many thanks


K.

The text you are quoting:

Thanks Ritchie for the advice - but as you know housing in GVA is so difficult that if I don't put down a deposit the place is likely to go to someone else; if I have this person's name and bank account details (for transfer), together with proof of tenancy of the flat, if he turns out unreachable when I arrive in GVA, would it not be relatively easy for the police to track him down? 


Many thanks


K.


Kalok Y, Feb 1, 2014 @ 15:11
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Re: deposit to secure sublet
Post 5



First, how did you find this accommodation?  Where is it located?  What do you know about the advertiser  (i.e., nationality, profession)and, why is he/she subletting it, and for how long?).


If you have satisfactory answers to at least these very basic questions and if, as stated on your profile, you work “in law”, why not ask your prospective employer to check the advertiser’s credentials?


No one can decide for you, but you have asked for advice on this site and in my view it is far safer to spend a little time in a hotel or a flat-share while you look around for housing rather than buying a pig in a poke and running the risk of being out of pocket as well as homeless because the accommodation is inappropriate or even non-existent.


R.


 


 

The text you are quoting:



First, how did you find this accommodation?  Where is it located?  What do you know about the advertiser  (i.e., nationality, profession)and, why is he/she subletting it, and for how long?).


If you have satisfactory answers to at least these very basic questions and if, as stated on your profile, you work “in law”, why not ask your prospective employer to check the advertiser’s credentials?


No one can decide for you, but you have asked for advice on this site and in my view it is far safer to spend a little time in a hotel or a flat-share while you look around for housing rather than buying a pig in a poke and running the risk of being out of pocket as well as homeless because the accommodation is inappropriate or even non-existent.


R.


 


 


Ritchie, Feb 1, 2014 @ 17:24
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Re: deposit to secure sublet
Post 6

I have subleted my 3pieces apartment few times once I reserved it for someone who were in Japan and we exchanged our ID cards/ passports by email and he deposited half of one month rent in my bank account. But unfortunately it is not always the same there is lots of people who cheat and ask for deposit then even the apartment doesn’t exist or they provide fake address and.. so be careful and dont deal unless if you are not sure.


good luck!


Mursal

The text you are quoting:

I have subleted my 3pieces apartment few times once I reserved it for someone who were in Japan and we exchanged our ID cards/ passports by email and he deposited half of one month rent in my bank account. But unfortunately it is not always the same there is lots of people who cheat and ask for deposit then even the apartment doesn’t exist or they provide fake address and.. so be careful and dont deal unless if you are not sure.


good luck!


Mursal


Mursal Ali, Feb 3, 2014 @ 17:22
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Re: deposit to secure sublet
Post 7

Hi Kalok,


There are numerous scams going around. If they are asking you to pay via Western Union - DON'T !   . . . this is a scam for sure.


If you are coming to work, surely your employer could help you out. But a sublettor should be able to wait until you get here, and you can send some ID etc to prove that you are bonafide, maybe even your work contract.  Ask for a copy of the original lease; your rent should not be any more than the actual rent, maybe a couple of hundred francs more if the apt is well furnished, otherwise artificial sub-rents are illegal.


BTW the deposit should be one, maximum 2 months rent, unless it is for an open ended contract.

The text you are quoting:

Hi Kalok,


There are numerous scams going around. If they are asking you to pay via Western Union - DON'T !   . . . this is a scam for sure.


If you are coming to work, surely your employer could help you out. But a sublettor should be able to wait until you get here, and you can send some ID etc to prove that you are bonafide, maybe even your work contract.  Ask for a copy of the original lease; your rent should not be any more than the actual rent, maybe a couple of hundred francs more if the apt is well furnished, otherwise artificial sub-rents are illegal.


BTW the deposit should be one, maximum 2 months rent, unless it is for an open ended contract.


Poster, Feb 3, 2014 @ 18:26
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Re: deposit to secure sublet
Post 8

I have subletted before and if the person is coming over from overseas, I asked for a bank transfer deposit of 100CHF to secure the place, forfeitable if the person changes his/her mind.  This is because I do not want to hold the room for a person who might be holding other places to check out before he/she decides not to take mine and as you know, in Geneva, there is always the opportunity cost.  To ask for a full month's deposit is too much I think.  The subtenant who finds the apartment to be a lemon will really have to suffer in it or give up a month's rent.  Since your arrangement sounds like an informal one, perhaps it will be possible to negotiate a smaller deposit/potential loss.  Like what the rest suggested, if you have a someone here to check it out for you, it will be best.  As for whether the police here will help you to catch scam artists, that will be another thread for another day.

The text you are quoting:

I have subletted before and if the person is coming over from overseas, I asked for a bank transfer deposit of 100CHF to secure the place, forfeitable if the person changes his/her mind.  This is because I do not want to hold the room for a person who might be holding other places to check out before he/she decides not to take mine and as you know, in Geneva, there is always the opportunity cost.  To ask for a full month's deposit is too much I think.  The subtenant who finds the apartment to be a lemon will really have to suffer in it or give up a month's rent.  Since your arrangement sounds like an informal one, perhaps it will be possible to negotiate a smaller deposit/potential loss.  Like what the rest suggested, if you have a someone here to check it out for you, it will be best.  As for whether the police here will help you to catch scam artists, that will be another thread for another day.


Ping L, Feb 3, 2014 @ 18:46
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Re: deposit to secure sublet
Post 9

I'd follow Ritchie's advice and wait until you are in Geneva to see the apartment and find whether the offer is legitimate.


The deposit for the apartment is done in the form of a blocked bank account where you put 3 months' worth of rent.

The text you are quoting:

I'd follow Ritchie's advice and wait until you are in Geneva to see the apartment and find whether the offer is legitimate.


The deposit for the apartment is done in the form of a blocked bank account where you put 3 months' worth of rent.


TheOmegaMan, Feb 3, 2014 @ 19:14
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Re: deposit to secure sublet
Post 10

Kalok , please take on board what Ritchie in particular is advising. Geneva is a cut throat place for housing. Too many people have been ripped off, granted this may be a perfectly honest deal, but better safe than sorry. If your renter is geniuine as you say, then he/she will have no issue waiting for you to set foot in GVA and then finish the deal in person at the flat. A token deposit as mentioned by Ping should suffice. Alternatively dealing with a reputable regie company can also be easier. 


Best of luck, hope it works out. 

The text you are quoting:

Kalok , please take on board what Ritchie in particular is advising. Geneva is a cut throat place for housing. Too many people have been ripped off, granted this may be a perfectly honest deal, but better safe than sorry. If your renter is geniuine as you say, then he/she will have no issue waiting for you to set foot in GVA and then finish the deal in person at the flat. A token deposit as mentioned by Ping should suffice. Alternatively dealing with a reputable regie company can also be easier. 


Best of luck, hope it works out. 


Kevin M, Feb 4, 2014 @ 12:07
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Re: deposit to secure sublet
Post 11

DO NOT PAY BEFORE YOU HAVE SEEN THE PLACE WITH YOUR OWN EYES!!!!


You may turn up to realise that you have seen an apartment via skype based in Mogadishu.


 


It is NOT normal to ask for a deposit before this.

The text you are quoting:

DO NOT PAY BEFORE YOU HAVE SEEN THE PLACE WITH YOUR OWN EYES!!!!


You may turn up to realise that you have seen an apartment via skype based in Mogadishu.


 


It is NOT normal to ask for a deposit before this.


Charlie, Feb 4, 2014 @ 12:28
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Re: deposit to secure sublet
Post 12

DO NOT PAY BEFORE YOU HAVE SEEN THE PLACE WITH YOUR OWN EYES!!!!

You may turn up to realise that you have seen an apartment via skype based in Mogadishu.

 

It is NOT normal to ask for a deposit before this.


Feb 4, 14 12:28

I totally agree with Charlie's opinion. When a "landlord" requires a deposit to "secure" the lease, it's usually a scam. Also a deposit has to be paid on a separate account at your name, not mingled with the landlord's funds.


 

The text you are quoting:

I totally agree with Charlie's opinion. When a "landlord" requires a deposit to "secure" the lease, it's usually a scam. Also a deposit has to be paid on a separate account at your name, not mingled with the landlord's funds.


 


Alexandre P, Feb 13, 2014 @ 16:11
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Re: deposit to secure sublet
Post 13

In Switzerland, it is compulsory to deposit 3 months rent as safety deposit.


Swiss people do it too.


But you can also subscribe an insurance with companies such as:


 


Swisscaution


https://www.swisscaution.ch/index.php


 


 

The text you are quoting:

In Switzerland, it is compulsory to deposit 3 months rent as safety deposit.


Swiss people do it too.


But you can also subscribe an insurance with companies such as:


 


Swisscaution


https://www.swisscaution.ch/index.php


 


 


hay_, Feb 13, 2014 @ 18:33
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Re: deposit to secure sublet
Post 14

From what I know the deposit is supposed to be made in a separate account not the account of the  renter. Careful, as the others have said ask your employer or someone to go check out this place accommodation in Geneva is hard but scam artists know this that is why it is a  hot market for them.


Even if you have all this proof, it might take a long time if it ends up you dont get the apartment and your money will be tied up for no reason.

The text you are quoting:

From what I know the deposit is supposed to be made in a separate account not the account of the  renter. Careful, as the others have said ask your employer or someone to go check out this place accommodation in Geneva is hard but scam artists know this that is why it is a  hot market for them.


Even if you have all this proof, it might take a long time if it ends up you dont get the apartment and your money will be tied up for no reason.


Marcy S, Feb 13, 2014 @ 18:52
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Re: deposit to secure sublet
Post 15

Scammers ask for payment by Western Union because it is anonymous and the scammer can't be traced.


Someone who owns or rents an apartment in Geneva will ALWAYS have a Swiss bank account.


"Geneva" is a big area, and sometimes includes neighbouring France (Hotels in Annemasse, France describe themselves as near to the centre of Geneva).  You need to know how easy it is to get to work.

The text you are quoting:

Scammers ask for payment by Western Union because it is anonymous and the scammer can't be traced.


Someone who owns or rents an apartment in Geneva will ALWAYS have a Swiss bank account.


"Geneva" is a big area, and sometimes includes neighbouring France (Hotels in Annemasse, France describe themselves as near to the centre of Geneva).  You need to know how easy it is to get to work.


Marcus T, Feb 15, 2014 @ 07:19
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