A rental bond is needed as security for the landlord of the property to ensure that if the tenancy agreement is broken, they have access to money to make up for the damage, loss of rent, paying leftover bills, etc.
Tips
- The bond helps to ensure there is money available to be used by the landlord to pay for damages or loss of rent, even if the tenant can’t afford the costs at the end of the tenancy.
State or Territory Requirements
A rental bond or form of security is recommended by all states and territories for rental properties.
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.Snug has taken every effort to ensure this content is accurate and up to date.