Our Rent & Damage Guarantee provides landlords with peace of mind knowing that in the event of damage and/or default on rent payments, their investment properties will be covered for up to the agreed upon guarantee amount.
- The tenant can check their BIC to see if they are pre-qualified for an RDG.
- If eligible, the tenant and the landlord can decide on the RDG amount (this amount can range from $400-$20,000*).
- The Tenant will pay 1.5-2.5% of total annual rental expenses yearly... The fee is renewed automatically every year until the tenant moves out of the rental property*.
- The RDG covers missed rent payments & damage up to the RDG amount.
- If a Landlord files a claim, the tenant is responsible for paying back Locnest the full claim amount.