What is a BondAssist Tenancy Guarantee?

BondAssist is a Guarantee issued by CBL Insurance Limited to guarantee the performance of approved Tenant(s) under a signed Residential Tenancy Agreement.

• The Tenant and Landlord agree bond cover up to 5 weeks rent or $5,000 (whichever is less).
• The Tenant pays a fee of 23% (including GST) of the cover amount for the issue of the Guarantee.
• The Landlord is issued with a 3 year, irrevocable Guarantee that cannot be cancelled by any party other than the landlord once issued.
• The 3 year Guarantee includes one free transfer where the tenant can, during the 3 year term, transfer to a new tenancy (conditions apply)
• The Landlord can claim against the Guarantee at the end of the tenancy by completing a claim form and attaching a Mediated or Adjudicated Tribunal Order to support the amount claimed. The requirement of a Tribunal Order may be waived if the amount is small; the tenant is not in dispute and appropriate evidence supplied. The amount paid is then recovered back from the Tenant(s).
• The Guarantee can be combined with traditional bond for even more cover.

Tenants are subject to credit approval and policy terms and conditions apply.