Coverage Amount and Lease Term

You can choose from 3 months of rent coverage up to the full lease term when sending a Tenant Invitation.

The maximum coverage amount is calculated as:

Monthly Rent × Months of Coverage

#Full Coverage

Full Coverage means the coverage months equal the full lease term.

Example:

• Lease term: 12 months
• Monthly rent: $4,000
• Coverage selected: 12 months
• Maximum coverage: $48,000

12-month lease + 12-month coverage = Full Coverage

#Partial Coverage

Partial Coverage means selecting fewer months of coverage than the full lease term.

For example, on a 12-month lease, you can select 3 to 11 months of coverage.

Example:

• Lease term: 12 months
• Monthly rent: $4,000
• Coverage selected: 6 months
• Maximum coverage: $24,000

12-month lease + 6 months coverage = Partial Coverage

The bond still applies throughout the lease term. The selected coverage amount is the maximum amount available for covered rent losses under the bond.

#Where do I select the coverage?

You can select the number of months of rent coverage when sending a Tenant Invitation.