Landlord's Frequently Asked Questions
How much is the fee?
The fee is a one-off payment of 5% of the total/yearly rent.
Will your service make the room price go up?
With the facility of zero deposit, your property can rent out much faster compared to other units. Rental price always depends on supply & demand of market.
Do you collect deposits from the tenant?
Tenants pay zero deposit. If they run away, we will claim the lose from insurance company
Is this insurance protection similar to SpxxdHxxe?
Yes, insurance protection wise is similar. However, we will appoint over 2,000 real estate agents to market your unit. Along with the help of the zero deposit package, it will be 10X faster to rent out your unit.
How is the Tenancy Agreement made?
Our property agents will offer their tenancy agreement templates when tenants confirm to rent the place. However, Landlords always have the option to use their own tenancy agreement.
Do you already have tenants available?
This is our procedure:
1. Landlord agrees with no deposit terms (covered by insurance)
2. Our support team will gather unit information from Landlord
3. RentGuard agents will promote your unit with zero deposit package to potential tenants.
4. Agents will contact landlord on viewing arrangement.
Can I only use a part of your service, ie only the insurance or the referral?
No, RentGuard will assist landlord on the whole renting process in order to get them covered
Does the landlord need to pay any fees to engage RentGuard's service?
No. Landlord pays nothing till a tenant is secured with booking fees. The 1-month commission will be collected from the tenant's rent as Agent commission.
What is RentGuard Landlord Insurance?
RentGuard’s Landlord Insurance is a type of policy that covers property owners from financial losses within their rental properties. This coverage ensures that landlords can protect their rights and interest when the situation arises.
How will RentGuard’s Landlord Insurance benefit landlords?
With tenants paying zero deposit and the help of over 100 real estate agents, your property can be rented out much faster.
What Does The Landlord Insurance Cover?
I) Rental loss - Covers malicious damage by tenant, tenant runaway and legal fees for letter of demand.
II) HomeFix - Covers home repairs and maintenance
III) HouseOwner (Building) - Covers your residential building against damage.
What is Rental Collection System?
RentGuard’s online rental collection system is a hassle-free solution that primarily
functions as an auto online rental collection system which immediately debits the rental
payment from the tenants’ bank account or credit card.
How will RentGuard’s online rental collection system benefit landlords?
● Auto rental collection system
● Blacklist irresponsible tenants
● Secure security deposit
● Rental reminder & tracking system
● Auto invoice & receipt generator
● Free listing submission to over 700 agents
Why Is the Rental Money Transferred Into RentGuard’s Bank Account First?
- To enable the tracking system to ascertain which tenant has paid and which hasn’t.
- To send follow-up notifications to both landlord and tenants (who have not paid).
- To send acknowledgement of receipt to tenants who have paid, with notification to landlord as well.
To gather accurate records of delayed or unpaid rent in order to blacklist irresponsible tenants
How long does it take to transfer the rental money to a client’s landlord bank account?
The rental payment will be transferred into the client’s bank account within 3 working
Will the rental payment be transferred to RentGuard or Landlord’s account?
Tenants are required to transfer rent to RentGuard bank system, so system can keep track of rental process. The payments collected from tenant’s will be transferred to the landlord's account within 3 business days.
For further inquiry on our Rental Collection System, contact us