The tenant and property owner/manager will receive an Acknowledgement of Rental Bond from the RTA as part of this process. The tenant can lodge and pay the requested bond money directly to the RTA via the RTA Bond Lodgement web service. The tenant or the property owner/manager can lodge the requested bond money with the RTA via the RTA Bond Lodgement web service. How does bond money get paid to the RTA?īond money should only be paid after securing the tenancy and signing the tenancy agreement. When is a bond taken?Ī bond can be taken only after the prospective tenant is given a copy of the proposed tenancy agreement containing any special terms that apply to the tenancy, as well as copies of other paperwork such as park rules or body corporate by-laws. They may need to claim a part or all of the bond money at the end of the tenancy if the tenant costs them money by damaging the premises, breaching the agreement or owing rent. However, most lessors/agents take bond money as security for the premises. The Act does not require a bond to be taken. It is paid in addition to rent or rent in advance. However, if it is money paid as protection over the property and its inclusions that is not rent – then it is a rental bond. A bond is sometimes referred to by other names such as a security deposit, linen deposit, key (or security card) deposit or pet bond. It is used as financial protection for the lessor in case the tenant breaches the terms of the agreement. What is a rental bond?Ī rental bond is money paid by the tenant at the start of a tenancy agreement. The Residential Tenancies Authority (RTA) administers the Act and holds bonds during a tenancy. The Residential Tenancies and Rooming Accommodation Act 2008 (the Act) outlines the rules for collection, management and refund of rental bonds in Queensland.
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