If rent is $350 a week or less in Victoria, the bond cannot be more than the equivalent of one month’s rent.
Landlords/agents can charge more if:
• The lease agreement states that the property is the landlord’s principal residence and intends to resume living there at the end of the tenancy
• The rent is more than $350 a week
• The landlord/agent obtains an order from the relevant body that sets out the amount of the bond.
For more information about calculating bond in your respective state and territory, you can visit these websites:
Wednesday, 31 October 2018