Once a bond is received you must provide a receipt, or note the payment details on the tenancy agreement, and provide a copy to the tenant. The Department of Commerce has previously indicated it is reasonable to have the bond disposed within days or the paperwork with the tenant for signing within that time,” Tricia said. This factsheet outlines the law in NSW about rental bonds , including ways to pay the bond , the landlord ’s obligations, claiming the bond , and Rental Bonds Online. Please note that special rules during COVID-may affect some info in this factsheet.
See our COVID-Guide here.
For example, in Victoria it is three days and in NSW it is seven. What steps do I take to get my bond back? If an agreement cannot be reache the property agent or landlord has days to contest your claim by applying to the NSW Civil and Administrative Tribunal. If they do not apply within the days, the bond will then be paid out as per your claim. Visit getting your bond back page for more information on the bond refund process.
At the end of the tenancy, your tenant is responsible for returning all sets of keys provided to them. If they don’t return the keys, you can hold them responsible for the cost of changing the locks or charge them rent until the keys are returned.
Rental Bonds Online is a service helping tenants, agents and self-managing landlords lodge and refund bond money securely and easily. NSW Fair Trading encourages everyone involved in the process of renting to use this service. If it is agreed the owner will claim a portion of the bond to cover damage etc. Processing takes 2-business days once received and the money will be returned by EFT. The landlord will probably do the same.
Bond Claim help for tenants if the owner cannot be contacted – Victoria. Your landlord must give you back your bond by business days after your lease ends. If they want to keep some or all of your bond they must tell you by business days after your lease ends. The bond money must be lodged with the Rental Bond Board in NSW and Residential Tenancies Bond Authority in Victoria. An analysis of rental bond data last year by UrbanYou, an online home services marketplace, found one of the main reasons for landlords keeping the bond is cleaning costs.
The bond will then be repaid into the nominated bank account (s) within two business days. If the claim is submitted on paper, allow an extra two to three business days after the RTBA receives your claim. Return the form to NSWFT. NCAT will decide how the bond will be paid out. or register to the Residential Tenancies Bond Authority (RTBA) Online website and submit a bond claim online.
For help with registering, see our page on getting started with RTBA Online.
How Long to Get Bond Back in NSW ? If there are no claims against your bond , Fair Trading will pay your claim after days. It usually takes about working days to refund a bond when a fully completed form is received. A tenant cannot request the return of their deposit before the tenancy ends. Landlords and tenants need to complete and submit a bond refund form at the end of the tenancy. Charging a bond If the landlord charges a bond they must lodge it with Tenancy Services within working days.
I do have the Landlord insurance, but it will certainly not cover all I have lost (my time of work, etc). My screening process is going to be much more rigorous in future, unfortunately to the detriment of some possibly nice tenants. The CTTT will decide how the bond will be paid out.
You will receive a copy of their application and a Notice of Hearing from the Tribunal. If business days have passed the landlord can no longer make a claim against your bond unless they are granted an extension by the Tribunal. The Department will write to your landlord about the bond refun and give them working days to respond.
Sometimes, tenants and their landlord or letting agents just can’t agree on how the deposit should be returned. If your landlord agrees with the information on the Bond Refund form, it will be processed. If this happens, our free Dispute Resolution Service is there to help you resolve your dispute.
It’s a free impartial service we provide, that means you don’t have to resort to the Courts, which can be costly and take a long time. If the landlord intends to make a claim on the bond , they must do so within days of the tenancy agreement finishing. Any claims against the security deposit must be itemized at this.