A rental bond is a sum of money that a landlord can ask for as security against their property when a new tenancy starts. The bond money is held by Tenancy Services for the duration of the tenancy. When a tenancy ends, the landlord can use this money if any careless of intentional damage as occurred to the property during the duration of the tenancy. Also, if there is any unpaid rent the landlord can use the bond to cover these costs.
A bond can be up to the equivalent of 4 weeks’ rent and must be lodged with Tenancy Services. You as well as everybody else that signed the tenancy agreement will need to sign the completed bond form. As a landlord you need to lodge it within 23 working days.
Getting your bond refund is an easy process. Given that the tenancy has ended, an inspection shows everything is in order and there is no unpaid rent. Simply complete the bond refund form and send it away to be processed. Remembering everybody who signed the bond lodgment form will need to sign the bond refund. It can take up to 15 working days to refund a bond when a fully completed form is received.
You can lodge your bond online or download and complete a form. To view these options please follow the link below