Renting

Rental bonds and condition reports: protecting your deposit

How bonds work, why the condition report matters, and what protects your money.

Prime Vista perspective

How bonds work, why the condition report matters, and what protects your money.

A rental bond is held as security for the condition of the property, not as an automatic cost of moving. Understanding how bonds are lodged and how condition reports protect you can save a real argument at the end of a tenancy.

How bonds work

A bond is typically equivalent to a few weeks of rent and is lodged with the state tenancy authority, not held by the landlord. It is refundable at the end of the tenancy, subject to the property being returned in the agreed condition.

Complete the condition report

At move-in, photograph and document every mark, stain and issue, and return the report within the deadline in your state. Disputes about pre-existing damage are far harder to resolve if the condition report is vague or missing.

Getting the bond back

At the end of the tenancy, both parties submit a claim to the authority. If there is a dispute, the authority holds the bond until it is resolved. Reasonable wear and tear is not a basis for a deduction, and a property manager should explain any claim in writing.

General information only, prepared by Prime Vista. Obtain independent legal, financial, tax and other professional advice where appropriate.