How much does Bondable cost?

Bondable costs $19.99 a month, saving you from coming up with thousands of dollars. We won't charge your debit or credit card until you are approved. We then charge your first month in advance and continue to keep you ahead by a month for the duration of your subscription. $0 annual membership fee and $0 termination fee.

Aren’t I legally required to lodge a bond?

No. Even if no bond is held at the RTBA, landlords or their representatives & tenants can have their residential lease dispute heard at the tribunal. But in the instance of a claim or dispute, Bondable offers a digital mediation service for you and your landlord or their representative as part of your subscription, to help you come to an agreement earlier without needing to go to tribunal.

Do I need my property manager or landlord or their representative to agree first?

All you need to do is successfully sign-up to Bondable and we’ll take care of the rest. In fact, they’ll probably be pleased you’re with Bondable because it makes their job a whole lot easier.

What happens if there is a claim?

Bondable is a solution that helps mediate a quick outcome for all parties. In the event of a claim, Bondable has a digital mediation process to help resolve the issue. For example, if a claim of $500 is made, we pay that to the landlord, and through mediation, the agreed cost might be $300. The remaining $200 would be refunded to the landlord.

Is Bondable financially secure?

Absolutely. All Bondable bond guarantees are financially backed by an independent insurer.

How It Works: Your Guide to Renting a Property with Bondable

Navigating the rental market for the first time can be overwhelming. Understanding what is a rental bond, how to rent a property, and when to make payments are just some essentials for tenants. This guide will walk you through the basics of renting, focusing on Melbourne and beyond, while showing how Bondable simplifies the process without needing traditional loans.

What Is a Rental Bond?

A rental bond is a security deposit paid by tenants at the start of a lease agreement. This money is held as a safeguard against potential damages or unpaid rent. Many tenants wonder what is a bond on a rental property, especially when facing high upfront costs. Traditionally, bonds can be equivalent to several weeks of rent, making them a significant financial burden.

How to Rent a Property

Search for Properties

Start by researching properties that fit your needs and budget. Use trusted rental platforms to find listings and arrange inspections. Understanding how to get a rental property involves more than browsing; it’s about knowing your rights and responsibilities as a tenant.

Apply for the Property

After finding the right property, submit your application. This usually requires identification, proof of income, and rental history. In competitive areas like Melbourne, it helps to be prepared and know how to stand out in the rental market.

Finalise Your Bond and Sign the Lease

Before moving in, understand when to pay the rental bond and explore your payment options. Bondable offers an alternative to upfront payments through a subscription service. Once the bond is arranged, sign the lease to agree to the terms set by the landlord.

When Do You Pay Bond for a Rental?

Typically, the bond is paid before or when the lease agreement is signed. However, Bondable offers an alternative with a subscription model that covers your bond, allowing you to move in without the upfront cost. This option is perfect for those who need bond help without the complexities of a rental bond loan.

Why Choose Bondable Over Traditional Loans?

Unlike traditional loans, which often have high interest rates and require personal data that could compromise your privacy, Bondable prioritises your financial security. Designed by tenants for tenants, Bondable minimises data collection, working with reputable third parties like Frankie1 for identity verification. This keeps your personal information safe while ensuring you meet legal requirements.

Bondable vs. Bond Loans

Bondable serves as a practical alternative to conventional bond loans. Rather than worrying about how to rent a property with a loan that may carry high costs, Bondable simplifies the process with transparent pricing and tenant-focused solutions. This aligns with the company’s ethos of promoting tenant financial wellbeing and providing a fair playing field in the rental market.

Start Renting with Confidence

Navigating the rental process doesn’t have to be daunting. By understanding what is a rental bond, how to rent a house in Melbourne, and leveraging the resources available, like Bondable, you can make informed decisions that protect your financial health.

Are bond alternatives legal?

Yes, Bondable’s bond guarantees are compliant with Victorian legislation. They are not classified as bond replacement products but offer a legal and supportive alternative for tenants.

What alternatives to bond loans does Bondable offer?

Bondable provides a subscription service that includes dispute mediation support and a complimentary bond guarantee, and a transparent off-boarding process, all of which help tenants avoid the high costs and potential pitfalls of traditional bond loans.

Can’t find the answer you’re looking for in our FAQs? Please chat to our friendly team.