The rental bond is a goodwill payment held in trust and is used as a financial protection for the landlord, in the case the tenant breaches their tenancy agreement.

The amount of a bond is normally 4 weeks rent but this can be varied, depending on the size of the property.

Landlords can only deduct what they are lawfully entitled to, which effectively means, restoring the owner back into the same position they were prior to the tenancy.

The costs that can be deducted include outstanding rent and repairing any damages to the property.

Landlords cannot charge for any fair wear and tear of the property ie faded curtains, worn bench tops etc.

Landlords can make a claim on the bond for:

• Unpaid rent
• Damage caused by tenants and visitors to the property
• Cleaning expenses
• Abandonment of the premises (by the tenant)
• Landlord being forced to pay tenants’ outstanding bills
• Loss of landlord’s property

RealRenta Landlords have the added advantage of time and date stamped interactions.

RealRenta Tenants can submit all maintenance requests via the Platform and upload all necessary photos and documentation.

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