baggo Posted January 29, 2017 Share Posted January 29, 2017 I am almost sure this is going to be a daft question... But when an estate agent lists a bond and that is usually equivalent to the 1st months rent, is this in addition to the first month's rent? So one would pay 1st month's rent AND bond up front prior to getting keys? Ta B Quote Link to comment Share on other sites More sharing options...
Beaty Posted January 29, 2017 Share Posted January 29, 2017 I am almost sure this is going to be a daft question... But when an estate agent lists a bond and that is usually equivalent to the 1st months rent, is this in addition to the first month's rent? So one would pay 1st month's rent AND bond up front prior to getting keys? Ta B Not a daft question at all. I believe that the bond is paid and between 2-4 weeks rent, both 'up front'. B Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted January 29, 2017 Share Posted January 29, 2017 Yes. It is a months bond and a months rent up front. Be aware, it isn't 4 weeks either. It is a calendar, so what ever the weekly rent is advertised as, multiply by 52 and divide by 12 Quote Link to comment Share on other sites More sharing options...
Collie Posted January 30, 2017 Share Posted January 30, 2017 The bond is no more than 4 weeks rent (by law, 6 weeks if furnished) and a calendar month's rent is 4.33* the weekly rent (as Very stormy said *52/12). You cannot be obliged to pay more than 2 weeks rent in advance until you agree to it. A lot of tenants "agree" to pay by calendar month in advance. Quote Link to comment Share on other sites More sharing options...
Fisher1 Posted January 30, 2017 Share Posted January 30, 2017 The bond is no more than 4 weeks rent (by law, 6 weeks if furnished) and a calendar month's rent is 4.33* the weekly rent (as Very stormy said *52/12). You cannot be obliged to pay more than 2 weeks rent in advance until you agree to it. A lot of tenants "agree" to pay by calendar month in advance. another daft question - do you get the bond back when you leave, minus any dedications for damage or similar? Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted January 30, 2017 Share Posted January 30, 2017 another daft question - do you get the bond back when you leave, minus any dedications for damage or similar? Yes, though there are a lot of bad experiences on this with agencies trying the hardest to find excuses to make deductions from it. 1 Quote Link to comment Share on other sites More sharing options...
Collie Posted January 31, 2017 Share Posted January 31, 2017 Again yes you do. They have tightened up the law on this recently with the Residential tenancies Act 2010. Your bond is held by Fair trading and the landlord must apply for damages (unless you agree). They have also clarified what is damage v fair wear and tear, e.g. Furniture indentations and traffic marks on a carpet are fair wear and tear, Stains etc are damage. 2 Quote Link to comment Share on other sites More sharing options...
Guest Posted January 31, 2017 Share Posted January 31, 2017 Why is it just 30 days to get out if the owner wants the property back while if you break lease you have to give 60 days notice? Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 31, 2017 Share Posted January 31, 2017 Why is it just 30 days to get out if the owner wants the property back while if you break lease you have to give 60 days notice? It is 60 days, although I don't know the law for every state so maybe there is one that's 30 days. People need to remember that when dealing in realestate, every state has their own set off rules. It use to be 60 days unless it was a repossession and then I think 30 days was the notice arrangement. Quote Link to comment Share on other sites More sharing options...
Guest Posted January 31, 2017 Share Posted January 31, 2017 We need another rental now because the owner is moving back from Adelaide the agent's told us 30 days to leave. Running around like chased rabbits... Quote Link to comment Share on other sites More sharing options...
M1sery Posted April 22, 2017 Share Posted April 22, 2017 On 30/01/2017 at 6:20 AM, Beaty said: Not a daft question at all. I believe that the bond is paid and between 2-4 weeks rent, both 'up front'. B Most agents will ask for 6wks bond (they seem to where I live) then you pay your months rent upfront. Quote Link to comment Share on other sites More sharing options...
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