Hawke's Bay Property Investors' Association
Why landlords choose SmartBond
How often have you heard it said (or said it yourself) that... “4 weeks’ bond just isn’t enough” or “ the legislation is too light” or “the bond system is geared towards tenants”.
On the flip side, you have MPs claiming that many tenants struggle to find bond plus advance rent plus letting fees (and demanding reform on the back of it), and agents and property managers accepting reduced bond for your properties, for the sake of getting them let (and to make room for their fee).
SmartBond is the perfect solution. By offering up to 8 weeks’ cover without the need to raise an up- front bond, SmartBond makes letting easier and more attractive for landlords and tenants, without the need to compromise on your cover.
What’s on offer?
A guarantee by way of insurance, SmartBond is an alternative to the old-style Department of Building and Housing administered bond system, providing the cover you need with less of the stress.
You can choose up to 8 week’s cover (double what’s available with a classic bond), with the potential for even more if you choose BondBoost (combine 1 or 2 weeks’ bond with up to 8 weeks’ SmartBond for 9+ weeks of total cover).
With SmartBond, you own the policy with the premiums covered by the rent, so cover lasts for as long as you need it. Tailor your cover to suit your needs, and then set the rent to reflect the added value SmartBond is giving tenants (being bond-free means a lot to tenants from all walks of life).
Premiums are minimal, so won’t affect the affordability of your properties, but waiving the need for a bond will certainly affect their marketability (advertise as “No Bond Required” and sit back and watch what happens).
Added marketability means less down time between tenants, which means less lost revenue, with the added bonus of extra cover. SmartBond tenants are rigorously vetted before they are approved (careful checking is how we manage our risk), so you know up front you’re getting the “right” type of tenants.
If something goes wrong and you need to make a claim the process is exactly the same as with a Department of Building and Housing bond, with payment guaranteed within 5 working days. We then recover from the tenant (including any extra you may have been awarded, which we’ll recover and hand back to you as a free service).
That’s a lot of reasons why you (and other landlords) choose SmartBond. This is why we’re confident that SmartBond is set to become the bond system of choice for smart landlords and tenants in New Zealand and those worn-out words “4 weeks just isn’t enough” will become a thing of the past.
SmartBond is underwritten by Southsure Assurance, an SBS Bank Group company. See www.SmartBond.co.nzfor more information. SmartBond – rent smart, live smart.