What you need to know about rental Bonds Tip 2

Who pays the rental bond? Whose money is it?

Tenants named on the lease are responsible for paying the bond.

In the case of co-tenants, each one is generally responsible for paying their share of the bond.

The tenant will usually complete a bond lodgement form and should obtain a receipt, once they have paid the bond, from their landlord orproperty manager.

The monies held belong to the tenant(s) and the landlord/property manager can not take money from the bond unless they have a good reason.

Heads up: Bond replacement products (such as bond guarantees or bond loans) are not legal in some states and territories.

However, bond assistance may be available through a government department.

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Jason Gwerder
Wednesday, 25 November 2020

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