What Is A Rental Bond?

A rental bond is money your lessor or provider can ask you to pay as financial security when you rent a place.

In Queensland the RTA holds bond money during the tenancy and administers the bond refund at the end of the agreement. It is not compulsory to charge a bond for residential premises.

However, if a bond is charged, it must be lodged with the RTA. Bonds charged for on-campus university accommodation, or boarding or lodging accommodation, must also be lodged with the RTA, even though those types of accommodation are not covered by the Act.

For a residential tenancy, the lessor or agent cannot ask you to pay a bond, or other money for the tenancy other than a key deposit, until you are given a copy of the proposed tenancy agreement for the premises. This does not apply to room-only accommodation.