What If I Rent a Place to Live Series – Rental Bond
What Bond should I Pay?
What amount should I pay as a rental bond if I rent a new place to live?
Can the landlord demand I pay any amount?
There are rules when renting a place to live in Queensland whether it’s a house, unit, share house room, caravan or houseboat that protects you as a tenant.
These rules are set out in the Residential Tenancies and Rooming Accommodation Act 2008.
The Residential Tenancies Authority (RTA) is a government body which is responsible for the fair operation of these rules.
Most tenants will be required to pay rental bond at the start of a rental agreement into the landlord’s agent trust account (this means it can’t be spent by the landlord).
The rental bond is used as financial protection for the landlord in case of a breach of the terms of the rental agreement. If no terms of the rental agreement are breached, then on completion of the rental agreement, you are entitled to have the full bond returned.
If the rent is $700 or less per week, your maximum bond amount will be four weeks rent. If your weekly rent is higher than $700, the amount of your bond should be negotiated between you and your landlord.
The four week amount would be a good starting point.
Make sure that you receive a receipt from either the landlord or his agent in writing for the amount of the bond.
The Residential Tenancies Authority (RTA) can provide you with general information as well as answer specific questions about your rental rights and responsibilities. The RTA Client Contact Centre can be contacted for the cost of a local phone call on 1300 366 311. Alternatively you can refer to the RTA website at www.rta.qld.gov.au/renting.
If after contacting the RTA you still require legal advice, please contact QLD Law Group for assistance on 1300 QLD LAW.
The Rhino Rule
What if I want to share a place with someone who is already a tenant and they ask me to pay part of the bond to them?
The Rhino Rule is always get your name onto the rental agreement and the bond is paid to the landlord and not your house mate otherwise it may hard to get your bond back when you leave.