Who holds the bond money?

A maximum amount equal to four weeks rent is to be paid by the Tenant as Bond prior to the Tenant moving into the Property unless the rent is greater than $700 per week. In this case, then an agreed amount can be requested to be paid over and above the four weeks rent as Bond. The Bond is lodged with the Residential Tenancies Authority and held there until the Tenant vacates the premises and a thorough Agent Exit Property Inspection and report  is completed and we are satisfied the Tenant has returned the Property as required and all rent has been paid. The Bond is then dispersed appropriately.

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