Eqaro Guarantees partners Nestaway Technologies to offer rental bonds

Eqaro Guarantees, a financial institution that provides surety solutions, and Nestaway Technologies, a managed home rental network, have announced a partnership to issue rental bonds. Eqaro Guarantees will issue the bonds on behalf of tenants at Nestaway Technologies. 

The initiative will target the entire tenant community including families, working professionals, and singles.

A rental bond is a three-way agreement between the landlord, tenant, and the surety provider. This facility will be initially available in Bengaluru, Mumbai, and NCR, followed by other cities where Nestaway Technologies is present. 

With this partnership, the tenants would have options to choose from according to their budget and personal preferences. There will not be any burden on the landlords to look for credit verified tenants, conduct background checks, and chase tenants to pay their dues on time.

Pankaj Bhansali, COO & CBO, Eqaro Guarantees said, “Work from home has become a permanent trend in some segments increasing the need for hassle-free tenancies. This alliance will make homes accessible to prospective tenants without the need for any security deposit while at the same time providing landlords with credit verified and assessed tenants. Rental bonds are superior to the traditional cash deposits and help tenants carry forward the benefits of a good tenancy track record to their subsequent tenancies.”

Amarendra Sahu, CEO, Nestaway Technologies said, “As leaders of the charge to strategically bring order to an unorganized residential rental market, we look at this partnership as another step in that direction. We hope it will simplify landlord-tenant relationships and further boost the quality of our customer experience.”