To end the contract, you need to log in to your user panel, select the guarantee contract and click the "End Contract" button. After that, the landlord has 30 days to submit their outpayment claim or approve it. If there is no reply within 30 days, the contract is automatically terminated.
If your financial situation happens to change, you do not have to worry, as it does not have any effect on your current and active sureties. Nevertheless, please keep in mind that it might should you wish to extend your guarantee period, it may affect the outcome.
Your application might be denied to due to fact that your credit scoring is too low. Please consider the option "Split the guarantee", to add your co-tenants or family as additional guarantee providers.
To avoid payment delays, we advise you to use direct debit or credit card as a payment method. Nevertheless, if you happen to miss a payment, we send you a notice. For delays that occur more than once a year, we also charge late payment penalty fees. Payment delays do not affect your current sureties, but they might have an effect on future applications.
If your landlord presents a claim, you will have 7 days to negotiate with your landlord until the payment for the claim is processed. After which, you can choose to pay the amount in full or apply for payment by instalments.
If you do not have enough funds to cover the claim right away, Bailsman will make the payment on your behalf to the landlord. After which, you have one week to make payment to Bailsman or choose between a 12, 24 or 36 month payment plan.
Security deposit guarantee is 100% backed by licensed financial institutions on the respective markets to the clients. Therefore, there is no risk for the landlord of not receiving the amount of claim.
The coverage period can be set by the landlord and lasts until the landlord ends the tenant guarantee holding. One period can be no longer than 12 months. Before the end of the period, the landlord will receive a notice to extend the period for up to 12 months.
In case of any damage, a claim can be presented with a press of a button. The tenant will be notified and has a chance to contact the landlord to discuss the claim or offer other means of remedy. If no changes are made to the claim amount, Bailsman will pay the requested amount to the landlord's bank account after 7 days.
As Bailsman eliminates all the problematic aspects related to the security deposit, it provides brokers with a tool for reaching a wider client base and clients can make faster decisions about renting. This means you spend less time per property and make more deals.