A bond (sometimes called a ‘security deposit’) is an amount of money paid by tenants at the start of a tenancy in case they damage the property or fail to pay their rent.
If your rent is $350 per week or less, you cannot be asked for more than one month’s rent as bond. If your rent is over $350 per week, or the tenancy agreement states that the premises are your landlord’s ‘principal place of residence’ and that they intend to move back in when the lease is up, there is no maximum bond limit.
Most landlords will ask you to pay a bond.
Your landlord cannot increase the bond during your tenancy.
Bond lodgement form
When you pay your bond, you and your landlord or agent must sign a Bond Lodgement Form. Your landlord or agent must give you this form at the time that you pay the bond.
Once you have paid the bond, your landlord or agent must lodge your bond money and the Bond Lodgement Form with the Residential Tenancies Bond Authority within 10 business days. If you haven’t received notifi cation from the Authority within 14 days that your landlord or agent has lodged your bond, contact the Bond Authority on 1300 137 164 (local call cost). The bond is held by the Bond Authority until the end of the tenancy.
Bond loan scheme
If you can’t afford the bond, the Office of Housing may be able to help. Contact your local Housing Office for more information.
See Guarantees for full details