Residential Bond Top Up

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.

All bond top ups in Queensland & Western Australian, for properties managed with @realty, will be paid directly into our trust account. @realty Head Office Rentals will then lodge the bond top up with the relevant bond authority within the specified, legislative timeframes.

The tenant will need to use their ID number & state Bond in the reference field when making payment of a bond top up to ensure it's allocated correctly. For further information, please click the following link: 

https://www.atrealtysupport.com.au/a/solutions/articles/14000145965

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

Western Australia

• Bonds can only be increased following a lawful rent increase
• The maximum security bond can be equal to four times the weekly rent. If the rent payable under an agreement exceeds $1,200.00 per week, there is no limit on the bond amount.
• The bond increase notice must be written but there is no specific form required. The written notice must state the amount of the increase and the date it must be paid. 
• The date the bond increase must be paid needs to be at least 60 days after the date the bond increase notice is given 
• The bond increase notice cannot be given less than 6 months after the tenancy started or the bond was last increased

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.

Northern Territory

• Bonds cannot be "topped up" through a tenancy no matter how much the rent may increase through a tenancy.

Australian Capital Territory

• Bonds cannot be "topped up" through a tenancy no matter how much the rent may increase through a tenancy.