If you and your lessor, agent or provider agree, you can pay the bond in instalments. The lessor, agent or provider must forward your first instalment to the RTA with the completed Bond Lodgement form.
The remaining instalments must be lodged with the RTA with a Part- Payment of Rental Bond form. The lessor, agent or provider must lodge each instalment with the RTA within 10 days of receiving it.
If your lessor receives money from the government to provide rental accommodation, they do not need to lodge each installment but must lodge the total bond within 10 days of receiving your final instalment or your agreement ending.
If you live in rooming accommodation and pay the bond in instalments, your provider must lodge your bond with the RTA within 10 days of all instalments being received or, if all the bond is not paid in three months, within 10 days of the end of the three month period, after which time each bond instalment must be lodged with the RTA within 10 days of receiving it.
Information supplied courtesy of the Tenants Union of Queensland Inc
Further information and advice for Queensland tenants can be sourced from www.tuq.org.au