BondFree
                Agent FAQ

What is BondFree?

BondFree allows approved tenants to secure a property without the need of paying a cash rental bond, for a small one-off fee.

How does BondFree Work?

BondFree is not an insurance product but a bond deferment service.
The approved tenant is at all times still obligated to the rental tenancy agreement and will be required to pay an amount up to the deferred bond value if a tenancy breach occurs**
BondFree has at all times pre-authorisation from the approved tenant the full bond value in the event of a tenancy breach. This ensures both your agency and the landlord are protected at all times.

How do I become an accredited agent with BondFree?

Applying to become an accredited agency or property manager with BondFree is easy. Simply click Apply Now, fill in your details and submit your completed application form to us and we will be in touch. Alternatively, you can email us your details at enquiry@bondfree.com.au.

How is an accredited BondFree agency paid?

As an accredited BondFree agency or property manager, you can now earn an additional income stream through BondFree. We pay a commission on every approved application submitted to us. The total commission is paid monthly via EFT to a nominated bank account.
"Some States require declaration of commission earned"

How does a tenant apply for BondFree?

A potential tenant can apply for BondFree through an accredited agency, online or property manager. As an accredited agency or property manager, you will advise the tenant that you will fill out a BondFree online application form and submit it on their behalf.

As part of every BondFree application, all applicants are required to read and accept the full terms and conditions before submitting an application.
The application form includes the tenants personal details, ID check and property details, plus their payment of the one-off application fee of $69, and if approved, a one-off non-refundable payment of 14.50% of the total rental bond value*. By logging in to the online portal you will be notified by BondFree of the status of every tenant application and you will advise the tenant direct of the outcome of the application.

What if the tenant is a non-resident or company, can they still apply with BondFree?

Yes. They can still apply with the support of a local sponsor. Refer to the BondFree terms and conditions to find out more.

What is the cost to the tenant to use BondFree?

BondFree charges the tenant a one-off non-refundable fee of 14.50% of the total rental bond value*.
Included in this fee is a one-off account establishment fee of $69, which covers the administration costs associated with establishing, processing and verifying the tenants account. If the BondFree application is unsuccessful, they will only be charged for the one-off account establishment fee of $69.

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What are the tenant obligations?

BondFree is not an insurance product but a bond deferment service, therefore the tenant is still obligated at all material times to both the rental tenancy agreement and the BondFree terms and conditions.

What happens if the approved tenant and agent/landlord are in dispute?

Generally, disputes between tenants and landlords are resolved privately by agreement or legally via mediation, court or tribunals. In all cases we await the final outcome and anticipate that both parties will abide with the end result. In the event the tenant fails to abide by the agreement or order, then BondFree will pay the agency promptly through our pre-authorised payment system.

Does the rental tenancy agreement need to be amended when using BondFree?

No. When completing the Rental Tenancy Agreement you simply tick no to the question ‘Has a bond been paid?’.

Can BondFree be transferred to another tenant?

No. Every approved BondFree application is an agreement with the approved tenant only for that property only.

Can BondFree be transferred to another premise?

No. Every approved BondFree application is an agreement that cannot be transferred from property to property.

Can I convert a tenants existing cash bond to BondFree? ?

Yes, existing tenants who have paid a cash bond can apply for BondFree and have their bonds returned in full (subject to application approval).

What happens when a lease is extended?

BondFree remains in force until the premises is vacated or the bond value is altered.

What happens when the bond amount is increased?

If the bond amount is increased throughout the duration of the tenancy agreement, a new application for the difference between the old and new amount must be submitted to BondFree and a minimum fee of $69 is charged at the time of submitting the new application.

How secure is BondFree?

Bondfree has at all times pre-authorisation from the approved tenant for the full bond value in the event of a tenancy breach. This ensures both your agency & landlord are protected.

Is BondFree legal?

Yes. BondFree conforms with all the government legislation. Our legal team will be happy to assist you with any enquiries. Email your enquiry to legal@bondfree.com.au

** Generally a breach occurs when a tenant defaults on an order of the Court or Tribunal. Refer to our terms and conditions.