Title: Snug Blog
Headings: Complete Guide to Rental Bonds in Australia for Renters
Complete Guide to Rental Bonds in Australia for Renters
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Written By
Prajin

Content: “rental bond” means an amount of money paid or payable by the tenant or another person as security against any failure by a tenant to comply with the terms of a residential tenancy agreement. Bonds are not mandatory, bonds are optional in every state in Australia. The rental bonds are managed by the rental bond authority in each state in Australia: NSW Rental Bond Board, Queensland Residential Tenancy Authority, Victorian Residential Tenancy Authority, South Australia Residential Bonds Online, Tasmania Rental Deposit Authority and Western Australia BondsOnline, and Access Canberra in the ACT. The Northern Territory does not have a bond board, simply bonds are held by the owner or agent. A rental bond is a cash security to protect the owner against damage to the property or other valid amounts owing to the owner by the tenant at the end of the tenancy. When an owner has a claim, this should firstly be resolved directly with the tenant. If there is no claim the tenant should receive a full refund of a rental bond. Typically bonds are managed by the residential tenancy bond authority in each state. No, bonds are not required.