Who holds the bond money?
Posted on March 14, 2018 in
All rental properties we manage must have a bond equal to four weeks rent paid by the tenant before moving in.
Our office creates an online bond for the tenant to pay the bond direct to NSW Fair Trading through a secure website. NSW Fair Trading will hold the bond until the tenancy is completed. By creating the online bond, the tenant has a number of options of paying the bond.
Once the exit inspection is completed and no issues have been recorded, water bills and any other invoices are paid, rent is paid up to the vacating date and there are no other issues, the bond can be returned.
