The bond is paid in the form of money. The rental bond is paid at the beginning of a tenancy (often prior to moving in) and is paid to your landlord, agent or an alternative government body. The bond is generally not compulsory, but most landlords ask for one.
Tip
The maximum bond that can be asked for is equivalent to an amount equal to the rent payable under the tenancy agreement.
State or Territory Requirements
NSW
Amount not exceeding 4 weeks' rent.
ACT
- 4 weeks' rent.
- Alternatives to bonds in the form of a guarantee or an indemnity are available, but only as an addition or in place of a bond under the maximum amount of bond payable by the tenant.
VIC
- 1 month rent if the weekly rent is less than $350. Unlimited if the weekly rent is over $350. The landlord may also apply to the tribunal if they want to apply to have a higher bond.
- There is also a provision that allows for different circumstances if the landlord occupies the premises as their principal place of residence before and after the tenancy agreement, and the agreement states this.
- A rooming house owner cannot ask for more than 14 days' rent for a bond.
QLD
4 weeks' rent.
SA
- 4 weeks' rent if weekly rent is $250 or less.
- 6 weeks' rent if weekly rent is greater than $250.
- The Maximum bond for rooming house agreements is up to 2 weeks' rent.
WA
- 4 weeks' rent.
- More security money can be asked if the weekly rent is over $1200. Extra can be charged if the tenant has a household pet (other than an assistance dog) to cover fumigation, but no more than $260.
TAS
Amount not exceeding 4 weeks' rent.
NT
Amount not exceeding 4 weeks' rent.
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These legal guides provide a brief summary and introduction of the laws and regulations affecting renting. They do not cover all cases and might not apply to your specific rental property situation. It is important that you use this information as a guide only and seek independent Legal Advice or consult the Relevant Legislation. Snug does not accept any liability that may arise from the use of this information.