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About us

FAQ Tenant

A security deposit is a sum of money given by the tenant to the property owner before moving in to cover possible damages made by the tenant.
What is Bailsman?
Bailsman offers a security deposit guarantee for the rental property industry.
What documents and information do I need to provide?
The tenant will be asked to provide their personal ID and answer a few basic questions.
How will I be identified?
Tenant ID can be identified through Bailsman's online platform or in person by a broker or landlord.
Who backs the Bailsman security deposits?
The security deposit guarantee is 100% backed by licensed financial institutions in the respective markets of the tenant.
How much does it cost?
The monthly fee for using Bailsman's service is 1% of the guarantee amount, which is charged to the tenant.
How are payments collected?
Payments for guarantee holdings must be paid to Bailsman on a monthly or quarterly basis by direct debit, bank transfer or credit card.
What is the length of the coverage?
On average, Bailsman offers coverage for 6-12 month periods. After a given period, we might ask you to update your information to extend the period.
How long does it take to get approved?
On average, the approval process takes up to 10 seconds.
Can I split the security deposit between my roommates or family?
Yes, the security deposit can be split between roommates or family.
How can I end my contract?
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.
What happens if my financial situation changes?
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.
Why was my application denied?
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.
What happens when I forgot to make the payments to Bailsman on time?
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.
What happens when the landlord decides to realize the claim?
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.
Can I pay the claim by not using Bailsman's platform?
Claims paid via Bailsman's platform are tracked by Bailsman's system, which later means both parties are cleared from complaints, as the landlord needs to confirm the transaction on Bailsman's system.
What happens if I do not have enough funds to cover the claim?
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.

FAQ Landlord

Bailsman offers a security deposit guarantee for the rental property industry.
Who backs Bailsman's security deposits?
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.
Who pays for the service?
Bailsman charges a service fee to the tenant only. For landlords, we offer our services free of charge.
What documents and information do I need to provide?
You need to provide some information about your property.
How much does it costs?
For landlords, we offer our services free of charge.
How can I add tenants to my property?
You can add tenants to your property through our platform, either personally or by sending them an invitation.
How long does the whole process take?
The whole process takes just few minutes.
How much coverage should I ask for?
You should ask for a coverage sum that will cover potential loss or damage made by tenant. Most of our landlords ask for coverage that is equal to 2 months rent.
How long does the coverage last?
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.
How can I realise the claim?
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.
How can the tenant's coverage be ended?
Tenant coverage can be ended if the guarantee period is over and not extended, or by landlord through the Bailsman platform.
When will I receive the payment from Bailsman after submitting a claim?
Bailsman will pay the requested amount to the landlord's bank account after 7 days.

FAQ Broker

Bailsman offers a security deposit guarantee for the rental property industry.
Who backs the Bailsman security deposits?
Security deposit guarantee is 100% backed by licensed financial institutions on the respective markets to the tenant.
Who pays for the service?
Bailsman charges a service fee to the tenant. Our services are free of charge for brokers.
What documents and information do I need to provide?
You only need to verify your ID through Bailsman's online platform and provide some basic information about your business.
Why should I use Bailsman?
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.