Silly question about bonds??

[moyjos]

When a tenant rents a property they pay a bond of usually 4 weeks rent.

What happens if they become long term tenants and the rent goes up a fair bit?? all of a sudden the "4 weeks" is now maybe 2 or 3 weeks.....

(now comes the silly question) at the time of resigning a lease, can you get a bond "topup"??

 

[Rixter]

Why dont you look it up on the RTA website for rental bonds.

 

[Peterw]

Sadly, the RTA website does not awnser that Question. Get your self a copy of the Renting a house or unit in Queenssland - Information Statement hand book, from either the RTA or I believe a Post Office. This is given to all tenants at the time of signing uup, and it will answer just about all questions about the Act, that Landlords or Tenants can have. The short awnser is - yes, once every 11 months, with one montsh notice, to increase the bond to remain on par with 5 weeks rent. Also, the 4 weeks only applies to rentals under $700 per week. Hope that helps
cheers
Peter Weiss