How long rental bond return

The boxes are packed. The carpet is still gently steaming from the deep clean you gave it last night. As any renter knows, coming up with the initial bond can be a big ask. When your lease is up, getting that money back can make the next move much easier.

But how do you get it returned, and what happens if your landlord wants to keep it? A rental bond, or security bond, is a payment made by a new tenant when they sign a lease. It acts as financial security for the landlord in case the tenant breaches the lease agreement — either by damaging the property or leaving charges unpaid.

Your lease will tell you how much your bond is. Gone are the days when a bond was paid to the landlord via an envelope of cash which you may or may not ever see again.

The bond process is regulated to make sure that tenants and landlords are both protected in case of a dispute. If there is a property management agency, they will do this part, but landlords can do so if they self-manage. Getting a bond back in the ACT is fairly straightforward. Once the tenancy is over, you can apply for your bond to be refunded. If the bond was lodged via the Rental Bond Portal, you can apply for the refund online.

Otherwise, you will need to complete a Bond Refund form and email it to rb act. Getting a bond back used to take a long time. In early , the news reported that getting a bond back in Canberra was taking up to two months, thanks to an influx of new tenants into the market.

Introduction At the end of your tenancy the agent or landlord will inspect the property, and your bond refund will be determined. If they don't do so within the 14 days, the refund amount you claimed will be paid to you. You can then either: agree to the amount within 14 days, inform Fair Trading that you've applied to NCAT for a hearing to dispute the amount, or take no action, and after 14 days the bond will be paid out as per the landlord's claim.

Select the 'Apply online' button. Log in to your RBO account. Access your bond details. Log in to RBO Start now.

How bonds are refunded There are two ways a bond can be refunded: directly into a bank account by cheque. You can enter your bank account details in RBO during the refund process. Funds are held by CBS if the person: is not active on RBO at time of refund did not provide bank details or forwarding address. Claims on the bond You can make a claim on RBO or by filling in a bond refund form.

Housing SA can initiate a refund or dispute a claim for bond guarantees they provide. Registered RBO users can dispute a bond electronically.

Was this page useful? Yes No. What did you like about it? How can we make it better?