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

Manage more than 5 properties?

1. Sign up
2. Invite your tenant
3. Review and approve

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 expected around mid-March 2018.

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 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
  • 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

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.

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 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.

1. Sign up
2. Invite your tenant
3. Review and approve
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