AXA Winterthur abolishes rental deposit
AXA Winterthur wants to do away with rent deposits in its residential properties in the future. Tenants can join a collective agreement instead.
According to AXA Winterthur, new tenants as well as existing tenants of their properties can join a collective contract in the future. If damage occurs or rents are not paid, AXA Winterthur will assume the costs incurred.
However, joining the collective contract is not damage insurance: the tenant is still liable for his own damages and payment of rent. The company merely pays the damage amount in advance and will claim it back from the tenant, AXA said in a statement.
The company expects the collective agreement to simplify processes, from which both the management and the tenant would benefit equally. For the time being, this solution is intended for apartments managed by Wincasa. Over the course of the year, all of AXA Winterthur's 20,000 or so tenants should be able to benefit from the offer.
According to its own information, the company is one of the largest property owners in Switzerland. It invests the savings of insured persons from occupational and private pension plans. The portfolio includes around 712 properties.
