Rental Bonds.
What Are They?
A rental bond is a predetermined payment, paid by the tenant, to the landlord or rental agency.
The
amount varies but is often the equivalent of 4 weeks rent if the weekly rent is $700 or less.
If the weekly
rent is above...
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Rental Bonds.
What Are They?
A rental bond is a predetermined payment, paid by the tenant, to the landlord or rental agency.
The
amount varies but is often the equivalent of 4 weeks rent if the weekly rent is $700 or less.
If the weekly
rent is above $700 per week there is no bond amount limit.
A bond is not the same as rent paid in
advance, but is paid in addition to any advanced rent payment.
The payment of a rental bond is designed
to provide security to the landlord for any breach of contract by the tenant in relation to care and
maintenance of the property.
It is not compulsory to request a rental bond.
If requested however, a receipt must be issued to the tenant
on payment of this.
A rental bond cannot be taken by a lessor or agent, prior to the prospective tenant
being provided with a copy of the proposed rental agreement and anybody corporate rules and
regulations.
If bond money is paid, it must be lodged with the RTA (Residential Tenancies Authority),
along with the B
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