Getting Your Bond Back

Getting your bond back at the end of a tenancy is a priority for most renters, as it represents a significant amount of money that can be used for future housing or other expenses.

The bond, typically equivalent to several weeks’ rent, is held as security by the Residential Tenancies Authority, to cover any unpaid rent, damage beyond normal wear and tear, or outstanding expenses.

To ensure the bond is returned in full, tenants must leave the property in the same condition it was in at the start of the tenancy, taking into account fair wear and tear. Understanding your responsibilities and the steps involved can make the process smooth and stress-free.

Preparation and communication are key to successfully getting your bond back. From the moment you move in, it’s essential to maintain accurate records, such as the entry condition report and any correspondence about repairs or issues during the tenancy.

Thoroughly cleaning the property, addressing repairs of any damage will help resolve the exit process promptly.

This article will guide you through the essential steps, offering tips and insights to help you secure the return of your bond without unnecessary delays or disputes.

How To Get Your Bond Back

Step 1: Vacate the Property

Tenants must ensure the property is completely vacated by the agreed-upon date, removing all personal belongings and returning the keys. Before leaving, a thorough clean should be undertaken, including carpets, windows, and outdoor areas, to meet the expectations outlined in the lease agreement.

Step 2: Exit Inspection and Report

The property manager conducts an exit inspection, comparing the property’s condition against the entry condition report. This inspection identifies any discrepancies, such as damage or cleaning issues, and forms the basis of discussions about the bond refund.

Step 3: Discussion / Rectification of Issues

If issues are identified during the exit inspection, tenants may given the opportunity to rectify them, such as repairing damage or organizing additional cleaning. This is only if time permits, so it’s important to allow sufficient time for this in your consideration of move out dates. Open communication with the property manager can help resolve disputes quickly and avoid deductions from the bond.

Step 4: Submit Bond Claim

Once all parties agree on the condition of the property, a bond claim is submitted to the relevant authority. This process ensures that the bond is refunded either in full or with agreed deductions, typically within a few days of submission.

4 Tips For A Successful Exit And Getting Your Bond Back

1. Plan ahead and allow plenty of time for moving and cleaning

Start planning your move well in advance to ensure you have enough time to clean the property thoroughly and address any required tasks. Rushing at the last minute can lead to overlooked details but also mean there isn’t enough time to rectify any missed items before a new tenant is moving in. This means you may be liable for the cost of trades or suppliers to attend to these.

2. Review the Entry Condition Report

Carefully compare the current condition of the property to the original entry condition report. This will help you identify areas that need attention and ensure the property is returned in the same condition, accounting for fair wear and tear.

3. Organise any repairs

If there are damages beyond normal wear and tear, arrange for repairs before your final inspection. Hiring qualified tradespeople for professional results can save time and reduce the chance of disputes.

4. Communicate with the Property Manager

Maintain open communication with your property manager throughout the process. Notify them of any challenges, ask for clarification on expectations, and keep them updated on your progress to avoid surprises during the exit inspection.

"I am so grateful for Property Zest managing my rental property over the past 6 years. Samantha and the team have always been so supportive and responsive to the tenant and myself, and there has never been an issue that couldn't be solved quickly. I will be using them again, and I recommend them to everyone."

JANNA MALLON

Frequently Asked Property Management Questions

What do I need to do to ensure I get my full bond back?

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Answer

To get your full bond back, you must leave the property in the same condition as when you moved in, minus reasonable wear and tear. This includes thorough cleaning, repairing any damage, and ensuring all items in the property are intact.

What happens if I accidentally damage the property?

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Answer

If you accidentally damage the property, you may be required to pay for repairs. It’s best to notify your property manager immediately, discuss the issue, and, if necessary, arrange for repairs or compensation before the final inspection.

Can I get my bond back if I have unpaid rent?

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Answer

Make sure all rent payments are up to date before vacating the property to avoid bond deductions. If you have any outstanding rent or fees, the property manager may deduct these from your bond before returning the remainder.

When will I get my bond back?

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Answer

The bond is typically returned within a few days to a few weeks after the final inspection, provided there are no disputes. If there are any deductions, the process may take longer as the amount must be agreed upon by both the tenant and the landlord.

What if there’s a disagreement about the bond?

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Answer

If there’s a dispute regarding bond deductions, you can contact the Residential Tenancies Authority to mediate the situation. Both parties must agree on the bond claim, and if they cannot, the matter may be taken to tribunal (QCAT) for resolution. This is a lengthy and sometimes, frustrating process, so good communication and discussion with your Property Manager and the will to resolve issues from all parties is by far, the best approach.