Rental bond in Queensland - Residential Tenancies Authority

Rental bond (Queensland, Residential Tenancies Authority)

A rental bond is a security deposit paid at the start of the tenancy. If the property manager or owner takes a bond, they must give the tenant a receipt and lodge it with the RTA within 10 days. It is an offence not to do so.

Maximum bond that may be taken:

• 4 weeks rent for general tenancies and rooming accommodation
• 2 weeks rent for moveable dwellings
• 3 weeks rent for moveable dwellings if electricity is provided

These maximums come from the Residential Tenancies and Rooming Accommodation Act 2008 and apply to all bonds no matter what they are called (for example a pet bond) or how many bonds are taken. Taking more than the maximum is an offence. Different rules apply where accommodation is provided by an employer - check with the RTA.

Lodging: a bond can be lodged online through RTA Web Services, or by post with a Bond lodgement form (Form 2). If you have a bond loan, the bond can only be lodged by post. You will need the date of the last rent increase for the property unless it is being rented for the first time or the owner is an exempt lessor. Once the payment clears, an Acknowledgement of rental bond is sent to the bond contributors and the property manager or owner (by email if they agreed to receive RTA notices by email, otherwise by post).

Bond increases: during a tenancy the bond may be increased if at least 11 months have passed since the last bond increase or the start of the tenancy. The property manager or owner must issue a written notice stating the day by which the increase must be made, and the increase must not take the total bond above the maximum allowed.

Source: Residential Tenancies Authority (Queensland Government statutory body) - rental bond page.