We make bond claims easy##

Leasing your property to the right tenant can be challenging. We make bond lodgement and claims easier with BondCover.

What is BondCover

How it works

Change is coming

##BondCover is not currently available.

ACT rental change is coming

Last year, the ACT Government changed the Residential Tenancy Act to enable rental bond guarantees subject to regulation.

This means ACT renters will soon be able to get their cash bond back while they’re still renting by swapping it to a BondCover certificate of guarantee, backed by IAG. The regulations are presently stayed.

In the meantime, ACT owners and managers can now register and to invite their renters to pre-register.

Register now and get access to support resources including videos, guides, email templates, special offers and more!

Congratulations ACT, you’re leading the nation.

As seen in

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Benefits of BondCover

Security

What is BondCover?

BondCover will be a guarantee for owners that valid bond claims will be paid. Tenants will 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 will be eligible for BondCover. We perform a comprehensive risk assessment to grant only suitable renters with BondCover.

Benefits

How BondCover will benefit you

  • Same protection as a bond
  • Cover indexed to the rental amount, no gaps
  • Fast, hassle-free payment on valid bond claims
  • Easily maintained with change of tenants
  • Lease properties faster with lower bond hassles

BondCover is not currently available.

Find out how BondCover can work for your property management business

Save admin time

Referral income*

Delight customers

Satisfy staff

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

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.

BondCover is not currently available.

It’s time to let go

In a world of driverless cars, we rely on data, technology and trust. It’s time to let go of the cash bond. There’s a better way to bond and your renters will love you for it.

Snug App

Property Manager FAQs

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

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

BondCover will maintain the rights and obligations in relation to bond claims for the renter and owner/property manager.

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.

Property owners should also hold traditional Landlord's insurance for additional protection beyond the the risks related to bonds.

When BondCover is available, Owners or Managers can notify and lodge bond claims online with Snug. Evidence is required to support a claim and we seek the agreement of both parties on the Claim Detemrination, or a Tribunal Order before paying a claim.

Renters applying will need to provide us with contact information, current lease and bond details, personal identification (such as driver’s license or passport) and bank account details to arrange your refund. Applying takes around 2 minutes.

Owners or Managers 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 will neither be insurance nor a loan.

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

BondCover, a better way to bond.

BondCover is not currently available.

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