Friday, August 19

MyBond launches service in Queensland

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Queensland, Australia.

Recently, due to overwhelming demand, Queensland rental rates have increased exponentially, with higher rentals signifying higher bond payments.

Late last year, MyBond launched its unique and ground-breaking service to alleviate this problem and to assist all Queensland renters. Since the launch, MyBond has helped over 50 applicants from Queensland with their rental bonds.

In 2016, approximately 30% of Queensland residents were renting privately. By 2021, residents of Queensland were facing the toughest rental market in over 10 years. According to market data, Queensland’s rental crisis has worsened to a point where it is now more expensive to rent a house on the Gold Coast than in Sydney, and experts predict that the chronic shortage of available properties could last for at least three year.

The Real Estate Institute of Queensland (REIQ) has revealed ‘extremely low vacancy rates across 80% of Queensland’. The REIQ went on to say that the ‘vacancy rates have sent Brisbane’s private rental market into uncharted territory, pushing vacancy rates down to their lowest levels since October 2012’. MyBond has responded to market conditions, and is now offering a new and alternative way of paying rental bonds. This is now available to all Queenslanders.

MyBond is a service that is unique and first of its kind globally, that helps tenants pay their rental bond. MyBond has a simple and straightforward fee of “One Week Only”. that can pay the tenant’s entire rental bond for a fee of just one week’s rent or as little as $150* (T&C’s apply). MyBond is a fast, easy, and reliable solution with 4 simple steps:

  1. Apply Online www.mybond.com.au
  2. You pay a fee to MyBond (equivalent to one week’s rent)
  3. MyBond pays your full rental bond
  4. The rental bond is refunded to MyBond when you move out.

Research has found that families in Brisbane have been offering above asking price and/or offering to pre-pay several weeks or even months rent in advance. This recent rental crisis in Queensland has led to the perfect time for MyBond’s launch into the state. MyBond Cofounder and CEO Ray Dib “We are able to help those in need through this tough time with an innovative new service that takes away some of the stress associated with renting and moving, and in particular on their bond for a fee of one week’s rent.”

Research from the Real Estate Institute of Queensland found that vacancy rates are down at the lowest levels they have been since 2012. MyBond Cofounder and COO Joshua Theeuf “We are thrilled to be the first of our kind in Queensland and are able to expand and help to drive change in the current rental market.”

MyBond is currently available in New South Wales, Victoria and Queensland and has also announced its expansion into other states by the first quarter of 2022.Apply now at MyBond.com.au 

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