Guarantee size | Tenant | Landlord | Broker |
---|---|---|---|
500 USD | 5 USD /month | Free | Free |
1,000 USD | 10 USD /month | Free | Free |
1,500 USD | 15 USD /month | Free | Free |
Bailsman enables tenants to avoid tying up any finances. This means, given funds are available to be used for other necessary expenses or investments. Payments for the guarantee can be made on a monthly or quarterly basis by direct debit, bank transfer or credit card. Soon, we will also offer the option of adding the monthly fee to your mobile phone bill.
In case a claim is made by the landlord, the tenant is required to pay the sum of the requested amount to the landlord. This amount cannot exceed the security deposit guarantee amount, which is initially agreed upon by both parties.
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 chosen financial institution will acquire the claim and cover the amount to the landlord. After that, the tenant can pay the sum of the claim to the financial institution in full or as partial payments.
Despite the fact that some part of sales might be made through direct approach, the main channels for Bailsman are real estate agencies and private property rental companies. 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.