What does the Lease Guarantee Bond cover?

#What does the Lease Guarantee Bond cover?

The Lease Guarantee Bond covers unpaid fixed rent and eligible vacancy loss if the tenant defaults during the covered lease term.

The maximum coverage is the coverage amount shown on the bond. For example, if the monthly rent is $4,000 and the bond provides 12 months of rent coverage, the maximum coverage would be $48,000.

Coverage may include:

• Unpaid fixed rent owed by the tenant
• Vacancy loss after a covered tenant default, subject to the bond terms
• Up to the total coverage amount stated on the bond

The Lease Guarantee Bond generally does not cover security deposits, property damage, legal fees, penalties, service charges, or other amounts that are not considered fixed rent. These may be covered separately under PandaDeposit when applicable.

All claims are subject to the terms and conditions of the bond.