The bond is not rent. Payment of the bond is money that a landlord can use if the tenant causes damage to the rental property or defaults on rent.
Basically if a tenant does anything to breach the tenancy agreement, the bond may be paid out to the landlord in part or full.
- Always make sure a receipt is provided. The person who receives the payment (often the landlord or agent) must give the tenant, or the person who paid the bond, a receipt for it. A tenant cannot use the bond to pay out the end of the rent for a rental tenancy.
- The bond must be in the form of money.
- The receipt signed by the receiver of the bond or security deposit should include: the date, the amount that was received, the name of the tenant on whose behalf the payment was received, the amount paid and the address of the premises (requirements based on NT, WA legislation).
- Eligible low-income households can sometimes get help to pay the bond.
State or Territory Requirements
- Your landlord can only ask for one bond per tenancy.
- The landlord or agent also needs to give the tenant a ‘Bond Lodgement’ form with details about how much bond has been paid.
- A separate receipt is not necessary if the information is included in the tenancy agreement.
- A landlord or landlord’s agent must be registered with the online rental bond service to request a bond.
- Alternatives to bonds in the form of a guarantee or an indemnity are available but only in addition or in place of a bond under the maximum amount of bond payable by the tenant.
- The landlord or agent must give the tenant a copy of the residential tenancy agreement.
- Only one security bond per residential tenancy agreement.
A landlord can apply to the tribunal to have the bond increased from the maximum amount. Not more than one bond is payable for a continuous occupation.
There are slightly different amounts of bond in QLD for ‘moveable dwelling premises’ (Caravans etc.)
- The landlord can only ask for one bond for the same residential tenancy agreement.
- The receiver of the bond must give the person who paid a receipt within 48 hours (Including: name, amount paid, address of the residency).
Only one security bond per residential tenancy agreement.
- A bond is referred to in Tasmania’s legislation as a ‘security deposit’ and landlord as ‘owner’. Security as an amount to be paid can be required by an owner. An exception is made for boarding premises. The owner cannot require more than one security deposit to be paid in relation to the same residential tenancy agreement.
- In addition to rent and a security deposit, an owner can also require a holding fee for a specified period exceeding 7 days for holding a residency in prospect of a future tenancy agreement.
- A bond is also referred to in the Northern Territory’s legislation as a ‘security deposit’.
- The landlord must not require more than 1 bond or security deposit in relation to the same tenancy.
- If the security deposit is paid by cash, cheque or credit card, the landlord must immediately give a receipt. If the deposit is paid in another method, the landlord must give a receipt within 2 business days after receiving the amount.
Snug has taken every effort to ensure this content is accurate and up to date.
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.