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. In case a claim is made by the landlord, the tenant is required to pay the sum of the requested amount to Bailsman. This amount cannot exceed the security deposit guarantee amount, which is initially agreed upon by both parties.
The Bailsman service is free of charge for the landlord, as tenant pays for the guarantee. Bailsman's aim is not to worsen the landlord's position by competing with the classical security deposit model, but provides a guarantee on a "no questions asked" policy and 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 100% backed by licensed financial institutions on the respective markets to the tenants, which are also made to known to landlords. Therefore, in case the claim is not paid by the tenant, the amount is paid out to the landlord by Bailsman via licensed financial institutions. After that, the tenant can pay the sum of the claim to the financial institution in full or as partial payments.
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.