What Is Rental Bond Money And How Do You Get It Back?

Families and working professionals in Perth often live in rental properties due to lifestyle flexibility, affordable rents, job mobility, and, of course, soaring property prices. According to recent stats, the median rent for a 2bedroom house in Perth is approximately $650 per week. However, this increases the competition among landlords/property managers and encourages them to maintain their premises in pristine condition. That’s one of the reasons why landlords collect a security deposit at the start of a tenancy. This can help landlords protect their property against damage during the tenancy.

Under the WA tenancy laws, tenants are required to pay a security deposit when signing the rental agreement. They can get it back at the end of a lease if they return the property in the same condition as it was at the start. It is a tenant’s responsibility to maintain a tidy home. If you are renting for the first time, then this guide is for you. We’ll understand everything about bond money, including how much renters need to pay and how they can secure it when moving out. Ensure you, as a tenant, carefully read your rental agreement and understand your responsibility to avoid bond deductions and disputes.

Let’s Get Started!

1. What is Rental Bond or Bond Money?

A rental bond or security deposit is the amount a tenant pays to a landlord or property manager at the start of a tenancy. In Perth, the bond money is equivalent to four weeks’ rent (unless rent is more than $1,200 per week). It must be lodged with the Bond Administrator at Consumer Protection, WA, within 14 years of being paid. The official body holds the security deposit until the end of the tenancy. Administration holds the bond money until the end of the tenancy.

Tenants are required to pay a rental bond to cover any damage to the property during their tenancy. Landlords have the right to withhold your full or partial bond money if the property is dirty or damaged beyond fair wear and tear. The security deposit is used by the landlord to cover cleaning and repair expenses.

Since it is a hard earned money, tenants hire experts for a budget vacate cleaning Perth because they follow a pre-approved cleaning checklist to impress the landlords. This can help you pass the rental inspection.

2. What Can and Cannot be Deducted from a Rental Bond?

By WA tenancy laws, landlords or property managers can’t deduct your bond money for normal wear and tear. This includes the damage caused due to natural deterioration or ageing of the property, including:

• Minor furniture marks on the carpet
• Faded wall pains
• Broken light bulbs
• Broken appliances due to normal due
• Mould due to dampness or a roofing issue
• Rug wear and tear caused by natural deterioration.

However, landlords can deduct your bond if the property is damaged beyond wear and tear:

• Dirt laden properties
• Stained kitchen appliances
• Broken doors and fixtures due to negligence
• Tears and stains on the carpet
• Stains from pets
• Mould and mildew due to negligence
• Damaged walls due to scratching or harsh chemicals

3. What Are Tenant’s Obligations in Perth to Secure Bond Money?

Understanding your rights and responsibilities as a tenant makes a world of difference when it comes to securing full bond money. In Perth, every tenant/renter is required to maintain a clean, hygienic property throughout the lease. In the event of any damage, you must inform your landlord and obtain permission to repair. This includes issues such as changing light bulbs and fixing drain problems.

When moving out of your tenancy, you are obligated to return the property in a reasonably clean condition to secure the full bond money. You can either do it yourself or hand over the task to the vacate cleaning Perth professionals for your peace of mind. Good companies follow a pre-approved cleaning checklist and offer a bond return guarantee with their terms and conditions. So, it is good to deep clean the property to meet the landlord’s expectations and secure your bond.

4. What is the Importance of a condition report when moving out?

It is essential for tenants to refer to the property condition report that you filled out at the start of a tenancy. It states the property condition when you first moved in. It is important to click timestamped photos and videos that can be used as evidence in case of bond deduction or dispute. Make sure you compare it with the current condition and clean the property accordingly to pass your rental inspection.

5. How to Secure Your Full Bond Money When Moving Out?

The following tips can help you streamline the bond refund process without any deductions or stress. Make sure you understand your duties and adhere to your responsibilities when vacating your rental home:

• Read the rental agreement carefully to check cleaning specific clauses, such as professional carpet cleaning, upholstery cleaning, etc.
• Notify your landlord in advance when moving out of your rental home.
• Do necessary repairs
• Thoroughly dust and clean all your rooms
• Clean and disinfect kitchen appliances and surfaces
• Wash windows inside and outside.
• Clean and polish bathroom fixtures and fittings
• Sweep and mop floors.
• Clean outdoors
• Pay all outstanding bills and rent.
• Return all keys
• Hire experts for a guaranteed vacate cleaning Perth and enjoy a top quality service

Infographic: A Complete Guide on Rental Bond in Perth

Wrapping Up

Rental bond is a hard earned money deposited by tenants to cover the expenses caused by damage to damage in the property. Make sure you adhere to your responsibilities and hand over the property in a pristine state to secure your bond without any dispute.