If the renter stops paying their Bondable subscription, the Bond Guarantee for the property is not impacted and the landlord remains covered. We wear 100% of the tenant risk.
In relation to the tenant, if they miss a monthly subscription payment we will send them a reminder. After 7 days of a missed payment, our collections process will commence. It is important to remember they have a contract in place with Bondable and they must meet their subscription obligations. Like any commercial agreement, failure to meet these obligations over time may impact things such as their credit score.