Bond

A rental bond is a deposit paid by a tenant to the landlord or property manager before moving into a rental property.

What is a rental bond?

A rental bond is a deposit paid by a tenant to the landlord or property manager before moving into a rental property. It serves as a form of security to cover any potential damages or unpaid rent during the tenancy. At the end of the tenancy, the bond is refunded to the tenant, provided there are no outstanding issues such as property damage or unpaid rent. 

Who is the rental bond paid to? 

Rental bonds are first paid directly to your landlord as a lump sum or in instalments (if agreed upon), who will then submit the amount to a government-regulated bond authority or trust account. In states such as NSW, your bond will be submitted to NSW Fair Trading. 

How much is a rental bond? 

The maximum amount that a bond total is 4 weeks of rent. This is regardless of whether the home is furnished or not. Additional children or pets also do not allow the landlord to exceed this amount.

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