Leading Western Australian real estate group Realmark has unveiled a new service it says will help tenants better cope with the financial strain of moving into a new property.
RentBond, serviced by rent.com.au, is a payment plan with no interest terms that provides tenants with a rental bond cheque payable to the State Bond Authority of up to $2,500.
Realmark said repayments are made in fortnightly instalments over a period of up to six months, allowing tenants the time needed to manage the costs associated with moving house.
According to Realmark corporate director of property management Sara Young, RentBond represents a “safe and sensible option that removes much of the financial pressure of moving”.
"Typicall,y when people move into a rental property they’re required to pay four weeks' rent in bond, and their first two weeks rent,” said Ms Young .
“Given that the average rental price in Perth is around $500 per week, most tenants would be looking at a move-in cost close to $3,000. Obviously this can be a really significant financial burden and it can be exacerbated by the many other costs associated with moving.”
She added that RentBond offers a way for approved tenants to easily acquire a bond payment and then sets out a sensible and financially secure repayment method.
The RentBond application is completed online and, once approved, tenants are able to visit a Realmark property management agent to finalise the process.
Ms Young said RentBond gives Realmark clients and landlords a major point of difference at a time when vacancy rates across the metropolitan area are rising.