Bonds (Security Deposits) What is a Bond?

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Most residential tenancies in Tasmania are covered by the Residential Tenancy Act 1997. The Act sets out the regulations around the payment and return of bonds.

What is a Bond? A bond is the money that you pay to a landlord/agent at the beginning of the tenancy. This is financial security for the landlord in the event that you fail to meet you obligations under the tenancy agreement, such as fail to pay rent or cause damage to the property. It is not compulsory for a landlord / agent to charge a bond.