For tenants, the most important aspect is affordability. It means the initial sum to pay should not be too high, or if possible, not be asked for at all. Bailsman enables tenants to avoid tying up any finances. This means, given funds are available to be used for other necessary expenses or investments. Tenant pays a low guarantee fee and a bigger sum is only required to be paid in case a claim is made by the landlord. This amount cannot exceed the security deposit guarantee amount, which is initially agreed in the contract by both parties.
The Bailsman service is free of charge for the landlord, as the tenant pays for the guarantee. Bailsman's aim is not to change the classical security deposit model, but to release tied up finances. Therefore Bailsman provides a guarantee on a "no questions asked" policy which is only one click away. To ensure confidence that there is no risk of not receiving the amount of the requested claim, Bailsman only provides guarantees that are backed by licensed financial institutions.
There is no cost to the broker for Bailsman's services. Brokers can focus on helping their clients make the best decisions during the renting process. Bailsman serves as a great free tool for brokers, as it provides them an opportunity to close more deals by making their client's decision-making process much easier and faster.