A rental bond is paid to a landlord or real estate agent at the start of a lease as security for damage or unpaid rent. An insurance company guarantees the total value of the bond for the duration of the lease. When the lease expires, the tenant gets their bond back – assuming the landlord makes no claim on the guarantee.- less the payment to the insurance company for putting up the bond for them. If at the end of the lease the landlord claims the full value of the rental bond, he or she claims this through insurance, which then seeks repayment from the tenant which is covered by the insurance and costs far less than the full amount of the bond. The Smart part of the strategy is that a tenant may use BondSmart instead of using own cash towards the bond and investing the balance of cash in a bank account earning high interest. At the end of the lease term, the tenant has earned interest making them better off than if they had taken the first option of handing over the full bond.
Accidents happen, but we can help protect against property damage and extra cleaning costs with Bond Insurance.Apply
If you have better things to do with your money than pay one month’s rent up front, then a bond loan is the answer.Apply
What if there’s a fire, theft or flood and your belongings are damaged or gone? We can help you replace them with Contents Insurance.Apply