I’m manageing an IP myself and was wondering if you have to lodge your bond with a specific group or whether i can keep the bond in an account that i have control over
You have to lodge the bond with the rental bond people in your state. I believe it is unlawful to keep it yourself – and if I am wrong, I am sure somebody will correct me.
Part of the reason you have to lodge it is so that you can’t just decide to keep it if you felt like it at the end of the tenancy.
Cheers
MelYou do have to lodge bond money within 7 days in NSW with the Rental Bond Board, check with the appropriate authority for your state. Hope you’ve drawn up a lease and have the appropriate landlords insurance. Usually 4 weeks rent as bond, plus 2 weeks in advance, drawn into the lease. Try Commonwealth Bank for bond lodgement form. If the tenants break the lease, they are responsible for the rent until the property is leased again.
AnnaQuote:You must if in Victoria, lodge your bond with the Residential Tenancies Bond Authority in Melbourne.The form required is a Bond Lodgement Form which must be signed by both the tenant and landlord. At the end of the Tenancy a Bond Claim Form is required to be signed by both parties also with any agreed deductions taken off unless of course your tenant has a Director of Housing Bond loan which means if you even want to deduct $50.00 you must apply to the Victorian Civil & Administrative Tribunal.
Forms are available by ringing the Residential Tenancies Bond Authority in Melbourne.
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