What happens if I need to make a claim?

You will make your claim as normal. MyBond will confirm with the tenant that they agree with the claim and then approve it. We will then put the tenant on an interest-free, fee-free payment plan for 3 months to recover the loss we have incurred.

What are the hidden fees for my tenants?

There are no hidden fees. The only additional fee’s your tenants will pay to MyBond occur after 12 months. Which is equal to 1/12 of one weeks rent paid monthly. Meaning on a $2,000 bond it costs them an extra $41.60 a month, or 2 cups a coffee a week, 1 schooner weekly, or two bottles of wine monthly.

Can I get a higher commission rate?

We normally only pay 4% of the weekly rent as commission. However, we are open to negotiating a high rate for exceptional property managers. Feel free to contact us at bdm@mybond.com.au to schedule a phone call.

What checks do you do on tenants?

All tenants are checked against the National tenancy database before we approve them. This is to ensure that the tenant doesn’t have a history of not paying rent or destroying the property. We also do criminal checks to make sure that the tenant doesn’t have any upcoming court proceedings. We also have a proprietary decision engine to determine tenant’s risk.