We're a new (EU) B-permit holder couple. We're searching for a small studio in Zürich for a one-year or two-year contract. For almost one year, we've been living in furnished executive apartments. Easy, no hassles, no problems. You pay and never get bothered again.
But now, some of the regular local banks (TWINT-enabled) are uncomfortable with this arrangement. Don't ask us why. We're dealing with front-office staff. They have NO answers for us. They only have headaches/problems to pass on.
Now, we'd like to also forego the headaches/displeasures of dealing with property management companies requesting all kinds of documents we don't have, e.g. employment contract.
We even proposed to pay the annual rent upfront but this, much to our dismay and chagrin, scares the bejesus out of landlords and property management companies. They say "it's suspicious".
So, is there an "insurance or bank product" where someone of means can deposit a sum equal to the annual rental contract and have the insurance/bank pay out the monthly rental to the property management or landlord?
Interesting problems... you are running up against the problem that fall outside the box in that you presumably cannot show any "regular" income (i.e. salary or pension).
In theory you could use the Mietkautionskonto to solve the problem, which is effectively and escrow arrangement and generally is not used to make regular payments but simply to cover any unpaid rent/damages after the end of the rent period.
The problem is that landlord can only require 3 months rent to be put into the Mietkautionskonto. So even if you put into a full years worth (assuming the bank does not reject it), you could presumably withdraw anything beyond the 3 months in which case the landlord loses the security beyond 3 months.
This 3-month limit for rent security, will likely screw up any other similar arrangement (e.g. a full blown escrow arrangement) since effectively this all serves to secure rent, for which the statutory limitation applies.
The upfront payment probably prompted dismay on two grounds: (i) it could be viewed as security which should not be held by the landlord himself; (ii) and again the 3-month limit.
PM me if you want the contact details of real estate lawyer who might have some pointers in solving this issue.
We can and have shown a letter from a private bank/wealth management, but it only aggravates everything because now the property managers/landlord/purveyors of housing want to upgrade us more in line with our wealth. We want to simplify our lives. Not complicate it with material possessions we have to expend energy, time, and stress maintaining. This rather rudimentary life simplicity seems to be lost on those who have something to gain by matching us with expensive & lavish properties...sigh