Prior to the commencement of the lease, the tenant is required to lodge a bond equivalent to 4 weeks rent with the Rental Bond Board. This is done on line by the tenant and once completed, we are provided with confirmation that it has been paid. The tenant is also required to deposit 2 weeks rent in advance into our rental trust account. The lease is not signed with the tenant until both the bond plus 2 weeks rent have been paid.
NOTE: The bond is held by the bond board for the duration of the lease and is not released to the tenant at the end of the lease unless we authorise it following the completion of the outgoing inspection at the end of the lease.