The tenant applies online for pre-approval and will receive a decision within a few minutes.
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The tenant and landlord then agree the required security for the rental property. This could be just the Guarantee on its own (up to 5 weeks) or a combination of Bond and the Bond Assist Guarantee (up to 9 weeks).
When all agreed, send us the Tenancy Agreement so that the Guarantee can be created.
The tenant then pays the one-time fee of 23% (including GST) of the agreed cover (i.e. if the Guarantee cover required is $1500 then the fee payable by the tenant is $345).
Within a few hours of payment being received we will issue the landlord with a Guarantee Certificate signed by CBL Insurance Limited which can be claimed against at the end of the tenancy by the landlord if the tenant(s) have breached the Tenancy Agreement.
However, since it is a Guarantee, where a claim is paid, the amount paid is recovered back from the tenant(s) (Landlords can relax knowing that we only guarantee low risk tenants)