No, Rently Care comes at no fees for the landlord.
The complimentary insurance covers the following for landlords:
- Home contents damaged or lost by fire, floods, theft, and other defined events
- Coverage of lost or damaged fixtures and fittings from defined events
- Coverage of rental income loss / furniture storage costs if premises becomes uninhabitable from defined events
- Limited legal liability from compensation in respect to accidental property damage occuring anywhere in the world
- Access to legal, tech and financial support in an event of identity theft
Under Rently Care, Rently pays the security deposit directly to the landlord through bank transfer.
In order to facilitate this, landlords are required to onboard using Singpass (for identity verification), as well as to confirm their bank account details to ensure correct remittance of the funds.
This arrangement will not be possible as Rently Care is not a loan.
The agreement between Rently and tenants generally outlines the level of service that will be provided to them as a subscriber of Rently Care. This includes:
- Rently paying the deposit to the landlord
- Responsibilities in capturing the move-in condition of the premises at the start of the lease
- Responsibilities in rectifying damages prior to the end of the lease
- Service fee payment terms
- Other tenant obligations
Rently Care is a service that only covers the security deposit portion of the tenancy agreement.
At the end of the lease, should there be any claim from the landlord to withhold some or all of the security deposit, Rently will step in to confirm the reasonableness of the alleged damages vis-a-vis standard wear and tear.
With inventory images stored on our platform upon move-in, Rently takes an evidence-based approach in determining the reasonable extent of damages to safeguard parties against illegitmate claims and unfair withholdment of security deposits.
In cases where an agreement cannot be reached between tenant and landlord on reasonable damages and standard wear and tear, Rently will step in as a mediator between both parties.
With inventory images stored on our platform upon move-in, Rently takes an evidence-based approach in determining the reasonable extent of damages to safeguard parties against illegitmate claims and unfair withholdment of security deposits.
As the security deposit was paid by Rently, the landlord should release the deposit back to Rently.
Remittance details will be provided to the landlord upon onboarding.
Rently is neither an agent nor a property agency. We work alongside agents to help close tenancy deals with our services.
MyInfo is a government database service that has transformed the verification process in Singapore.
It was launched in 2016 as an auto-filling tool for digital documents. MyInfo retrieval uses Singpass verification to allow you to consent and share the required data to participating businesses for a more seamless digital experience.
By using MyInfo, you can enjoy less form-filling and a reduced need for providing supporting documentation for verification. You may read more about it here: https://www.developer.tech.gov.sg/products/categories/digital-identity/myinfo/overview.html