What is a rental “Bond” and do I need to pay it if I am moving into share accommodation?
A detailed explanation of rental bond is contained within our Guide to Renting section. It is common practice to pay bond when you sign a tenancy agreement. If your rent is $500 a week or less, the maximum total bond a lessor/agent can request is equal to 4 weeks rent. If you are a sub-tenant the same rental bond conditions apply as for lessor/agents. All bond money is held in trust by the Residential Tenancies Authority (RTA) while you live in the rental premises. The RTA will send you a notice (called an ‘Official Receipt’), to let you know they have received your bond. Note: If you do not receive an official receipt within a couple of weeks, it is recommended that you ring the RTA to check whether they have receipted your bond money – Ph: 3224 8444.
