1. Do OTR and OCD cover for tenants who run away? Am I still able to get the rental payment then?
No, OTR and OCD coverage is only for the tenant who has overdue rental and overstayed in the house. If the tenant chooses to move out or early terminates the agreement, SPEEDHOME will not pay for the rent of the tenant for the remaining months.
2. Do I need to submit anything to claim the OTR and OCD protection?
No. SPEEDHOME will pay the rent to the landlord and the landlord does not need to submit anything to SPEEDHOME. However, the landlord must allow SPEEDHOME to collect the rent on behalf of them.
3. What is the maximum overstay duration covered by OCD?
The maximum overstay duration covered is based on the tenure.
Example: For a one-year contract, if the tenant does not pay the rent on the third month after he moves in, SPEEDHOME will pay the rent starting from that month until the tenure ends.
4. Are there any special terms and conditions that I need to comply with ?
Yes. You need to follow the instructions provided by SPEEDHOME and fully comply with the vacant possession clause with SPEEDHOME.