Understanding bonds and contracts protects you from losing money and getting stuck in bad situations.

Rental Bonds

What Is a Bond?

A security deposit held during your tenancy. It protects the landlord against damage or unpaid rent.

How Much?

• Formal rentals: Maximum 4 weeks rent
• Sharehouses: Usually 2-4 weeks rent
• Some states have different rules

Where Does It Go?

Formal Rentals (through agents):

• Must be lodged with the state bond authority
• You get a receipt
• Protected by law

Sharehouses (informal):

• Often held by head tenant or landlord
• Less protection
• Get everything in writing

State Bond Authorities

• NSW: NSW Fair Trading
• VIC: RTBA (Residential Tenancies Bond Authority)
• QLD: RTA (Residential Tenancies Authority)
• WA: Bond Administrator
• SA: Consumer and Business Services

Getting Your Bond Back

At End of Tenancy

Requirements for full refund:

• Room/property in same condition (minus normal wear)
• All rent paid
• All keys returned
• Proper notice given

Common Deductions

• Cleaning (if left dirty)
• Damage beyond normal wear
• Unpaid rent or bills
• Missing items

Disputes

Formal rentals: Apply to your state's tribunal (NCAT, VCAT, etc.)

Sharehouses: Harder — document everything, try to negotiate

Lease Agreements

Types of Arrangements

Formal Lease

• With a real estate agent
• Fixed term (6-12 months usually)
• Legal protections
• Requires application/references

Head Tenant Arrangement

• You're subletting from someone on the lease
• Their rules apply
• Less legal protection for you
• More flexible

Direct with Landlord

• Varies widely
• Get everything in writing
• Check if landlord owns the property

What Should Be in a Lease

Essential items:

• Names of all parties
• Property address
• Rent amount and due date
• Bond amount
• Start and end date
• Notice period
• Who pays what bills
• Rules about pets, guests, etc.

Before You Sign

Check: ✓ Is the rent amount correct? ✓ What's included (bills, internet, furniture)? ✓ What are the exit terms? ✓ Condition report completed? ✓ Any special conditions?

Negotiate:

• Longer lease = potentially lower rent
• Break lease fees
• Minor repairs or maintenance

Breaking a Lease

If You Need to Leave Early

Formal lease:

• You may owe break fees
• Usually 4-6 weeks rent
• Advertise to find replacement (reduces costs)
• Give proper notice

Sharehouse:

• Check your agreement
• Usually 2-4 weeks notice
• May need to find replacement

If Landlord Wants You Out

Formal lease: They must give proper notice and have valid reason:

• End of fixed term (with notice)
• Sale of property
• Breach of lease by you
• Landlord moving in (with conditions)

Condition Reports

Why They Matter

Documents the property condition at start of tenancy. Crucial for getting your bond back.

What to Do

1. Complete thoroughly at move-in
2. Note EVERYTHING (marks, damage, cleanliness)
3. Take dated photos
4. Keep a copy
5. Return within timeframe

At Move-Out

Compare against original condition report. Only responsible for changes beyond normal wear.

---

Key advice: Always get things in writing. A casual conversation means nothing if there's a dispute later. Emails, messages, signed agreements — keep them all.