Unpaid rent is covered until the apartment is re-rented or the original lease expires, whichever is sooner. If the renter has holdover, up to two months of holdover coverage will be provided.
All the non-rent charges, such as apartment damages, legal fees, utilities, etc. should be posted and finalized before you submit a claim. All charges should be legal and compliant under state and federal laws.
The total amount you can claim from the bond is capped at the coverage limit, which is the product of the gross monthly rent and the number of months covered.
If you have opted into our Security Deposit Replacement (SDR) program, all non-rent unpaid charges are covered up to the SDR coverage limit, which is usually a month's rent.
If you have not opted into our SDR program, the security deposit you hold on the lease will be applied to apartment damages and legal fees, before any remaining security deposit is applied as a credit against unpaid rent.