|
[Print-friendly version]
A bond is the money you pay to the lessor at the beginning of your tenancy
as a security in case the terms and conditions of the agreement are not abided
by. The lessor may not charge you bond, but if they do, the lessor must lodge
the bond with the Residential
Tenancies Authority (RTA) within 10 days. The maximum amount you can be
charged for bond is an amount equal to 4 weeks rent. If your weekly rent is
more than $300, then the lessor is entitled to charge an unlimited amount of
bond money.
At the time of paying the bond money, the lessor must give you a receipt. Both
you and the lessor must sign a Bond
Lodgement Form (Residential Tenancies Authority Form 2), which the lessor
must lodge together with the bond payment. Failure by the lessor to lodge a
bond with the Authority can result in a $300 fine if not done within 10 days
of receipt.
For more information, visit the Residential
Tenancy Authority website.
|
