A bond is a security deposit the tenant gives the landlord at the beginning of a lease agreement. The landlord must lodge it with Consumer and Business Services (CBS). At the end of the lease, it is returned to the tenant if there are no claims for outstanding rent, cleaning or other costs.
Landlords and tenants can manage bonds electronically using Residential Bonds Online (RBO). It is compulsory for all registered agents to use RBO.
The maximum bond that a landlord can take for residential tenancy agreements depends on the weekly rent:
- up to four weeks rent if the weekly rent is $250 or less
- up to six weeks rent if the weekly rent is more than $250.
Landlords must give the tenant a receipt within 48 hours of receiving the bond.
Landlords must lodge a bond within two weeks of receiving it. Registered agents have four weeks to lodge the bond.
Visit tenancy bonds for information about lodging, refunding and managing a bond.