Frequently asked questions of tenants

General questions

How can I open a rental deposit with Evorest?

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Simply ask your property manager or landlord to open your rental deposit with Evorest. You can do this before the start of your tenancy or switch your current deposit with the consent of your property manager. In case of questions, we are happy to give your property manager a full overview of the solution and show them the benefits of using Evorest.

What is my rental deposit used for?

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Your rental deposit is blocked on an escrow account and serves as security for your landlord to cover any potential claims, such as damages. During your rental duration, the property manager or landlord has no access to your deposit. By the end of your lease, you will get your deposit back or can agree with your property manager to cover any potential damage or unpaid rent with the deposit.

How is Evorest different from rental deposit insurances and conventional rental deposits?

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Evorest is very different from rental deposit insurances. With Evorest, you pay in the agreed rental deposit before moving into your flat. Instead of paying a monthly fee for someone else to advance money for you, you can decide to invest your money and you can grow your wealth. Compared to conventional deposits offered by banks, you are not keeping the capital unproductive but can invest in world-class ETFs.

Invest your deposit

Do I have to invest my deposit?

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No. If you don’t want to invest, this is perfectly fine. We also offer a conventional deposit where your money is safely stored in cash on a savings account.

In what type of financial products can I invest?

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Through its app, Evorest provides access to 10+ high-class portfolios (ETFs) offered by our partner bank Hypothekarbank Lenzburg. They are all diversified across different companies, are managed by leading asset managers and listed on the Swiss stock exchange (SIX). Please head over to our product overview for more details.

How do I decide which target return and ETF focus I should choose?

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You can start investing in two simple steps. First, you can decide if you want to invest 25%, 50% or 75% of your paid-in rental deposit – the remainder will be held in cash in your account. In a second step, you can choose the focus of your investment and pick one of the portfolios (ETFs) that is available through our app. Evorest doesn’t provide any investment advice. You can also change your ETF portfolio and investment share after you have made an initial choice.

Do I get to keep all the returns of the deposit?

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Yes, the tenant can keep the return of the chosen investment. Evorest keeps only a small fee, to run its platform. The deposit including the return will be paid out after the tenant ended the tenancy relationship and no damages / open rents remain unsettled with the landlord.

What if there is a market downturn during my tenancy?

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If the markets go down and you invested your deposit, then you carry the financial risk and potential losses, as is the case with any freely available money you would invest. We try to limit the downside risk by only allowing you to invest a share of the deposit (25-75%). To further reduce your risk of not being able to cover a damage when moving out, Evorest requires you to top up your deposit if it falls below 80% of its initial value.

Can I keep my investment account with Evorest also after my lease ends?

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Yes, at the end of your lease you can decide if you would like to close your Evorest account or convert it into a private account. This is especially relevant if you believe it is not a good time to sell your portfolio and would like to keep investing. Of course, you are free to close the account at all times without approval from your property manager.

What happens if there is a market downturn when I move out and I have caused a damage?

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As long as the damage you may have caused is below the value of your rental deposit at the time of your move-out, the agreed damage will be simply deducted from your account and you are free to use the remains of your deposit. In the unlikely case that you have caused a damage that is higher than the value of your deposit, you will need to liquidate your investment and compensate the difference between the damage and the liquidated value of your deposit.

What is an ETF (Exchange-Traded Fund)?

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An exchange-traded fund (ETF) is a pooled investment security that typically tracks an index (e.g. the Swiss Market Index SMI), a sector, or other assets. ETFs can cover a wide range of investment strategies - from defensive to high-risk. Many ETFs are setup as passively managed investments which means that the tracking of the underlying index or asset is done in an automated way and without the involvement of a portfolio manager. This makes ETFs a low-cost but effective way to invest.

Closing your Evorest deposit

I am moving out of my flat – how can I close my deposit account?

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You need to contact your property manager to agree on the release of the deposit. The agreement of both parties (tenant and property manager) is necessary so we can release your deposit. As soon as you sign the agreement electronically in our app, our partner bank transfers your deposit to your bank account.

I already use Evorest - is it possible to use my deposit for my new flat that I am moving to?

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Yes, it is possible! You can close the old deposit account and at the same time open a new account with Evorest – but you might have a short time during which you have two deposits.

Legal topics and fees

Where is the actual deposit account located?

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The deposit account is safely stored with Hypothekarbank Lenzburg, a licensed Swiss bank which we partner with.

Is Evorest a FINMA regulated wealth manager?

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No, Evorest does not provide any wealth or asset management service and does not provide any advice on your investment. Therefore, Evorest is not required to be regulated by FINMA. The tenant takes the investment decision, Evorest passes on the investment decision to our partner bank Hypothekarbank Lenzburg, who then executes the order.

What are the requirements to be eligible for an Evorest account?

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Both parties, the property manager as well as the tenant need to agree that Evorest can be used as the rental deposit provider. The tenant needs to be a natural person, at least 18 years old and capable of acting. Also, the rental object needs to be in Switzerland. The minimum to invest your rental deposit is 3’000 CHF – below this amount you can still open a conventional rental deposit with Evorest.

What does it cost to have an Evorest account?

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We are charging an opening fee, and if you choose an investment account a yearly management fee, to cover the expenses of our partner bank and us. You can find our fees in our product overview here.

What personal data does Evorest save and where do you store it?

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We only store the necessary information we need to open your account. All data is safely stored on state-of-the-art cloud servers in Switzerland. For more information about our data processing and privacy, please check our privacy policy.

I will sign my rental deposit contract electronically – is that less secure than a physical signature?

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No, it has the same safety standard as the physical signature, and you help protecting the environment.

You have more questions? Feel free to contact us

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