How to get your rental bond money back in Perth?

House and coins on white background

How to get your rental bond money back in Perth?

By : Georgia
Knowing your renting rights is imperative before taking a property on lease in Perth, which is the capital and largest city of Western Australia. A recent study revealed that tenants in Perth are usually oblivious to the tenancy rules and their bond rights and hence get caught up in disputes with the property owners or landlords. Moving house is difficult enough, and being ignorant of your responsibilities regarding tenancy leads to unwanted financial frustrations. To avoid such unfavourable conditions, you must be familiar with all the important facts that should be taken into consideration while dealing with rental bonds. One of the best ways is to make your property ready for inspection at the end of the tenancy, and for that, it’s critical to hire professionals for vacate cleaning in Perth. Bond Cleaning in Perth has expert cleaners, who will make your house properly clean so that you don’t have to face any hassles to get back your bond money. Here is some important information about rental bonds and how you can get your bond money back in Perth:

What is the Bond and how does it work?

The rental bond is ‘Tenants Security Bond’ or the sum of money that renters have to pay to the landlords or property owners while signing the lease agreement. It is taken as financial protection for the property, and the owner can claim this bond money, at the end of your lease, if there is any damage to the property, unpaid rent or breaching of the agreement. The Government Bond Administrator- The property owner or the property agency cannot keep this bond money; rather it is deposited with central Bond Administration through the State Government Department of Commerce, where it is protected till the end of the lease. Property owners and landlords face severe penalties who fail to conform to this condition and pay the bond into the Government managed trust.

When is the Bond Money Returned?

The bond money should be returned at the end of the tenancy, and there should be no dispute between the tenant and the property owner, and both should agree. Make sure you don’t owe the lesser money for unpaid rents, damage done to the property, or any other cost that you are liable for.

How long should it take to have the Bond returned?

It takes seven to ten days for the bond to be refunded. However, it can also take more than ten days. Also, if the bond refund is getting delayed unreasonably, the tenants have the right to raise their concerns to the Department of Commerce directly.

Top Reasons Renters Don’t Get their Bond Back

There are few most common reasons why renters face problems in getting back their bond money. Let’s take a look:
  • Unpaid Rent- If there is an outstanding amount which is part of the rent, the tenant will face problem in the refund of bond money.
  • Damage- This occurs when damage is caused to the property by the tenant which is not part of fair wear and tear.
  • Cleaning- If the property is not cleaned perfectly at the end of the tenancy.
Hence, make sure that you pay your rent on time and do not damage the property in any case. Also, the wisest step to guarantee the refund of your bond money is to get your end of lease cleaning from a reliable company like Bond Cleaning in Perth.

Completing the Form for Return of the Rental Bond

  • Once the property owner and the tenant agree to end the lease and the tenant returns the property in the same condition (except fair wear and tear) as outlined in the property condition report, a Bond Statement gets drafted.
  • After that, a mutual Application for Disposal of Security Bond form has to be signed by both the tenant and the property owner in order to release the bond from the Bond Administrator.
  • Both the parties should complete and sign the form in case there is no dispute over the condition of the property.
  • In case there is an unsettled dispute between the tenant and the owner, over breaching of the agreement, unpaid rent or damage to the property, the bond is held by until the matter gets resolved in the Magistrates Court.
  • One important point to note here is to confirm that the disposal form is correctly filled before you sign it. The Bond Administrator will not be able to legally disburse the bond if a signature or any other detail is missing in the form.
  • The bond money may be used instead of unpaid rent; however, it is against the law to ask the property owner to take the amount from the bond money for unpaid rents at the end of the tenancy.

Getting your Bond Money Back

At the end of your tenancy, the property owner or manager will scrutinise the property to make sure that it has been left in the same condition as it was at the beginning of the lease. It may sometimes happen that there is disagreement between the tenant and the owner regarding any issue, which leads to further disagreement as to how the bond money will be disbursed. If after the property inspection it is revealed that there has been some damage to the property or it is not cleaned, then the tenant may be given a chance to address this issue and simply leave it to the owner and get things deducted from their bond. However, the owner is under no obligation to allow further access to the property.
Bond Disputes
In case the dispute is not getting resolved between the owner and the tenant by themselves, the Magistrate’s Court will decide on the allocation of bond monies. The Property Condition Report is check in this case to determine whether any damage was caused during the tenancy. Property Condition Report (PCR) is a mandatory document that is needed to be completed and signed by both the tenant and the property owner at the start of a new tenancy. To avoid such situations and to ensure the full refund of your bond money, be sure that PCR is precise and correct at the start of your lease and that you return the property to the owner in the best possible condition. If you follow the terms and rules of your tenancy agreement, you are in a good position to get back your bond money.
Renting houses is a common activity in Perth, and the number of leaseholders is increasing every day. If you are planning to take property on lease or are already living in rented accommodation and your end of the tenancy is near, then make sure you are aware of the process for signing a lease agreement, and claiming a bond refund to make sure you get back the full bond money. If you are facing any issues regarding the refund of your rental bond or looking for Vacate cleaning in Perth, then take the professional assistance of reliable cleaners. Bond Cleaning in Perth have specialised cleaners who will give your house a thorough clean up so that your landlord is fully satisfied with the condition of the property.