We make bond claims easy

When your Tenant has BondCover, bond claims are handled by us.

What is BondCover

Benefits for Property Managers

How it works

Get started with BondCover

BondCover essentials

Security

What is BondCover?

BondCover is a guarantee for owners that valid bond claims will be paid. Tenants obtain a BondCover certificate for the standard bond amount, rather than deposit cash with a bond authority.

Better renting

Attract better renters

Renters with a good rental history can apply for BondCover. We perform a comprehensive risk assessment to grant only suitable renters with BondCover.

Benefits

How BondCover benefits you

  • Same protection as a bond
  • Fast, hassle-free payment on valid bond claims
  • Referral income on existing/new bonds*
  • Easily maintained with rent changes

*Based on first years' BondCover fees. BondCover for new tenants coming in October.

How BondCover works

BondCover replaces a cash bond with a certificate of guarantee. Trust, it feels different at first, like getting your first Uber ride or staying at an Airbnb but soon you’ll feel better for it. Your renters will love you for it.

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Review & Approval

After the tenant applies for BondCover you’ll be requested to review and approve their application.

Issue & Refund

We then run a comprehensive risk assessment and issue the certificate to all parties before organising a refund of the tenant’s bond (minus a small annual fee).

Easy Claims

We take the hassle out of claims. If you have a claim, simply submit the details online and we'll handle the rest. If the claim is valid, Snug will:

  • Settle claims up to $500 within two business days, and
  • Settle claims above $500 to the amount of the bond, within five business days.

In some cases, we may require further information and/or a Tribunal order to finalise the claim.

From Snug Blog

Property Manager FAQs

Get the information you need to introduce BondCover to your agency, owners and renters.

BondCover is available on fixed term leases with at least 3 months remaining, or month to month / rolling leases.

There is no change to your rights or obligations as an owner, property manager or renter. BondCover is designed to swap old fashioned cash bonds for a certificate of guarantee for valid bond claims up to the amount of the bond. Landlords should also hold traditional Landlord's insurance for protection beyond the the risks related to bonds.

Owners or Managers can lodge bond claims online with Snug. We seek the Renter's agreement to the amount of the claim.

If the Renters don't pay, Snug pays the Owner or Manager:

  • Claims up to $500 within 2 business days, and
  • Claims above $500 to the amount of the bond, within 5 business days

In some cases, we may require further information and/or a Tribunal order to finalise the claim.

Renters still have to pay the full amount of the bond claim to Snug after we pay the Owner's claim.

Owners or Property Manager's approving a Renter's BondCover application will need to provide your contact information and current lease and bond details to confirm the information provided by your Renter. Approving takes around 2 minutes.

No, Snug BondCover is neither insurance nor a loan.

If a bond claim arises, BondCover is a guarantee for the Owner that Snug will pay valid bond claims if Renters don't or won't. Renters still have to reimburse the full amount of the bond claim to Snug.

BondCover, a better way to bond.

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