It is important to understand what is required by way of a bond top up and when they can be requested by an owner/agent from a tenant.
Each state and geographical location may have different requirements and rules to consider as tenancy law is a state based law. Whilst most have a similar outlook you do need to consider what may be specific for your state or region.
Queensland
- Bonds can only be increased once every 12 months from when a bond was last paid or increased
- Bonds can be a maximum amount that is equivalent to 4 weeks rent
- Bonds must be lodged within 10 calendar days of receiving it in the Trust Account
New South Wales
- Bonds cannot be "topped up" through a tenancy no matter how much the rent may increase through a tenancy.
Victoria
- Bonds cannot be "topped up" through a tenancy no matter how much the rent may increase through a tenancy.
South Australia
- Bonds cannot be "topped up" through a tenancy no matter how much the rent may increase through a tenancy.
Tasmania
- Bonds cannot be "topped up" through a tenancy no matter how much the rent may increase through a tenancy.
Western Australia
- Bonds cannot be "topped up" through a tenancy no matter how much the rent may increase through a tenancy.
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