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What are Rental Bonds

Landlords require a security deposit at the time letting out their property on rent to a Tenant. The deposits can range from 2 -12 months rental depending on the terms of the tenancy agreement & city of domicile. The security deposit is intended to protect the Landlord in the event of a default by the tenant. Eqaro Rental Guarantees recognizes the need for protection of the landlord's interests and provides them with a cover far superior to that of the traditional cash security deposit.

A rental bond is a guarantee in favor of a landlord that the tenant will fulfill his obligations under the tenancy agreement. It acts as a replacement to the cash security deposit & covers the following-

  • Unpaid rent
  • Up to 6 months of lock in period.
  • Damage to the property over fair wear & tear.
  • Unpaid bills - utility bills, maintenance charges, water bills, club charges etc as set out in your lease agreement.

Eqaro Rental Bonds helps simplify the process of building trust between the landlord and the tenant by taking the uncertainty out of renting.

Landlords

Did you know that there are over 11 million residential properties lying vacant in India? One of the main reasons is that the landlords prefer to keep their properties vacant rather than rent them to unverified tenants. This is even more prevalent amongst the non-resident property owners. We at Eqaro agree that dealing with unscrupulous and difficult tenants can be a nightmare!!

Happily, there is a solution at hand!! Eqaro Rental Guarantees are individually tailored guarantees offering you protection that is more comprehensive than that of the traditional security deposit. Our guarantees are aligned to the tenancy agreement and have the following benefits -

  • Complete peace of mind - All Eqaro Rental Guarantee tenants are credit assessed & verified tenants
  • Guaranteed Payments
  • Avoids end of tenancy hassles and disagreements
  • No chasing tenants for unpaid bills
  • Easy Administration- Its extremely easy to call up on the Rental Guarantee if the tenant has defaulted on their financial obligations.
  • Quick payment of claims - All claims are settled within 5 working days



Tenants

Free up your money for things that are more important to you!

Tenants have been traditionally required to put up a security deposit with the landlord prior to moving into a rented accommodation.

This security deposit lies locked up with the landlord for the duration of the lease. The money is yours but is locked up and could have otherwise been used for the various things more important to you. If you're already living in a rental property and have to shift either to a bigger place or relocate to another city, it will require you to put up a new rental deposit even before you've got the old one back.

Getting a rental bond is simple. And easy too!! Tenants can apply online with the necessary details. Eqaro conducts a few checks at its end and confirms its ability to extend the guarantee favoring the landlord on behalf of the tenant. Upon payment of the fee - a fraction of the security deposit by the tenant, the guarantee is issued to the landlord providing him with 100% protection.

Eqaro Rental Guarantees is the first such service in India which helps good, credible tenants move into a house or shift homes without tying up money in a security deposit while at the same time providing the landlords with complete peace of mind.

  • Easy hassle-free application and issuance process
  • Saves precious cash flow, sometimes to the extent of 10 -12 months rentals
  • Avoids follow ups with the Landlord for the refund of security deposit
  • Helps a tenant move from one property to another without having to put up an additional security deposit while waiting for the refund of the previous one
  • Your Rental Guarantee can easily be renewed annually, or even transferred to a new property should you decide to shift in the future
  • Guaranteed renewability - providing there has been no call under the Rental Bond, your bond is guaranteed annually renewable
  • Easy on your pocket: You need to pay a bond fee that ranges between 6-12% per annum of the bond value, depending on the kind of housing that you choose - Family home or Co-living room and the coverage opted for under the Rental bond.

Partners

The Landlords' interest in a rental agreement needs to be protected. At the same time locking up the tenants' cash in a security deposit does not really serve the purpose of nstilling the desired level of trust in the landlord - tenant relationship. Approved tenants can provide superior protection to their landlords through Eqaro Rental Guarantees. It also leaves them with additional liquidity to do the things that they want to do.

  • Better tenants by virtue of the Eqaro screening process leads to improved reputation with the landlord
  • Quicker rental deal flow due to improved trust levels between the landlord and the tenant
  • Faster rental uptake because of the lower outgo from the tenant
  • Additional source of revenue. Opportunity to create sticky annuity revenue



HOW TO GET A RENTAL BOND?

Register as a tenant with your details

Eqaro gurantee will calculate your Eqaro Rental Bond Eligibility

Enter the Property ID and Bond

Choose the tenure and make online payment of the Bond fee

Your Bond is issued. Download the Bond