The rental bond is a goodwill payment held in trust and is used as a financial protection for the landlord, in the case the tenant breaches their tenancy agreement.
The amount of a bond is normally 4 weeks rent but this can
be varied, depending on the size of the property.
Landlords can only deduct what they are lawfully entitled
to, which effectively means, restoring the owner back into the same position
they were prior to the tenancy.
The costs that can be deducted include outstanding rent and
repairing any damages to the property.
Landlords cannot charge for any fair wear and tear of the
property ie faded curtains, worn bench tops etc.
Landlords can make a claim on the bond for:
· Unpaid
rent
· Damage caused by tenants and visitors to the
property
·
Cleaning expenses
· Abandonment of the premises (by the tenant)
· Landlord being forced to pay tenants’
outstanding bills
· Loss of landlord’s property
RealRenta Landlords have the
added advantage of time and date stamped interactions.
RealRenta Tenants can submit all maintenance
requests via the Platform and upload all necessary photos and documentation.
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see why more and more investors are leaving traditional property managers!
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Jason Gwerder
Saturday, 5 October 2019
