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Renting just got a whole lot easier

Renting just got a whole lot easier

Press Release 22 August 2012

For tenants the rental market can be a competitive one, with many tenants competing for one property and for landlords the battle to get good, reliable tenants can be a frustrating one.

A Bond Assist Guarantee replaces or enhances the traditional bond with a maximum cover of 5 weeks rent.

It works simplistically for both tenant and landlord. The tenant purchases the Guarantee and can then ask the landlord to accept this instead of a bond or in addition to a smaller bond. The Guarantee cost 23% of the cover, so for $2000 cover the cost would be $460 (including GST)

A Bond Assist Guarantee can offer more than the current maximum of 4 weeks for a traditional bond because it’s a 'guarantee'. Guarantees were introduced in 2010 as an alternative way for a landlord to secure a tenancy

The Bond Guarantee covers everything from rent arrears, cleaning, damage, repairs and theft.

If a claim needs to be made against the Guarantee, the claims process mirrors the current bond refund process, so it is a straightforward process.

All tenants are carefully vetted, before the Guarantee is issued, so this makes them an attractive tenant and gives the landlord extra surety. The Guarantee can be transferred to a second tenancy for free and it lasts for 3 years.

© Scoop Media

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