To ensure we meet our regulatory obligations when you first lodge a notice of claim we are required to complete a know your customer check and take steps to ensure the bank account details provided are correct. These checks are completed when you first set up your account.
Why do I need to upload documentation when making a claim?
When you commence a dispute we need to make sure all documentation is in order, including: - Checking the tenancy agreement is in place. - Checking you are the landlord or their representative by checking the authority. - Checking that the landlord owns the property.
Essentially, some basic checks so we can offer you a great service and experience.
Do you really offer immediate payment of claims?
Yes! We know you have a business to run so when a notice of claim is lodged with Bondable you will be immediately paid the claim amount. The claim amount can be up to a month's rent and may include non-payment of rent. You must then actively work to resolve the claim through our digital mediation process.
What happens if a tenant misses a payment?
Life happens! If a tenant misses a payment we will give the tenant 7 days to make good on that payment. If, after 7 days the tenant has not made payment we will then commence a collections process. At this point, there is no impact on the tenant's credit score, we will do what we can to help the tenant get back on track.
Is Bondable a credit product?
No. We do however undertake a credit check on tenants as part of the application process. It doesn't impact a tenant's credit score. We want to make sure Bondable customers are never disadvantaged by using our products.
