Tenancy in the ACT - What is a bond?

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A bond is a form of security, paid by the tenant to the landlord or their agent, and then lodged at the Office of Rental Bonds.

A landlord does not have to ask a tenant for a bond, but if there is one, it cannot be more than 4 weeks' rent.

It is a once only payment which can't be increased or ‘topped up’. However if the same parties later sign a new agreement and the original bond is refunded, the landlord can ask for a whole new bond.

When you pay a bond, the landlord is obliged by law to give you a receipt.

All tenants contributing to the bond should complete a Bond Lodgement form, which the landlord must send, with the bond money, to the Office of Regulatory Services (Rental Bonds).

A landlord has 2 weeks to do this, a Real Estate Agent has 4 weeks. A landlord and or their Agent can face penalties if the Bond money is not lodged within that time frame. For more information see: Bond fact sheet

 

Information supplied courtesy of the Tenants Union of ACT

Further information and advice for ACT tenants can be sourced from

www.tenantsact.org.au