Tips to Get Your Full Bond Back at the End of Your Tenancy

As your tenancy comes to an end and you’re eager to secure the return of your full bond, here are some straightforward guidelines to ensure a smooth process.

Give Sufficient Notice to Your Agent or Landlord

Always remember to provide your property manager or landlord with sufficient notice before your departure. This aids them in finding new tenants and preparing the property for inspection. It’s a good way to earn their appreciation for a hassle-free key handover. Keep in mind that breaking the lease prematurely without paying the break lease fee may result in a deduction from your bond. Therefore, always notify your landlord in writing within the specified timeframe outlined in your contract.

Don’t Delay Cleaning

The key to ensuring there are no issues on your final inspection is to maintain cleanliness and upkeep throughout your tenancy. Starting with a clean slate is crucial, as deferring cleaning tasks can complicate matters later. Whether you’re living alone, with family, or in shared housing, maintaining a clean environment becomes more challenging if neglected. If cleanliness becomes a challenge, consider hiring professional cleaning services.

Adhere to Your Tenancy Agreement

All your responsibilities are clearly stated in your tenancy agreement, the legal document you signed at the beginning of your tenancy. Before scheduling the final inspection, carefully review your agreement and ensure you’ve fulfilled your obligations.

Address Issues Promptly

To secure the return of your bond, it’s essential to return the rental property in the same condition as when you received it, accounting for reasonable wear and tear. If you notice any issues, like a loose latch on a door or a broken window, don’t postpone repairs until you move out. Inform your property manager or landlord immediately and if the damage was caused by you, either fix the problem or cover the cost of repair. Taking time-stamped photos of the property, including any damages or missing fixtures, is also a wise move. Refer to your entry condition report if you have any questions.

Conduct a thorough Exit Inspection yourself before Handing Keys Back

Most landlords or property managers typically conduct a final exit inspection before allowing the RTA to refund your bond. This inspection helps them assess the property’s condition, identify any concerns, and make necessary repairs before the incoming tenant. Before you hand the keys back, conduct a detailed inspection of the property yourself, making sure that everything is clean, tidy and in working order, and is going to match what was on your Entry Condition Report. Once you have handed the keys back your opportunity to fix or clean anything is gone, and while sometimes you may be given the opportunity to re-attend to the property if you missed something, this is a courtesy only, and due to time constraints with an incoming tenant may not be possible.

Settle All Rental Payments and Invoices

Prior to moving out, ensure that all rental payments and invoices are cleared. This is the final step in securing the refund of your rental bond. Failing to complete these payments could result in being blacklisted on the tenancy database, negatively affecting your future rental prospects.

Know Your Rights

In most cases, if the property is in good condition, landlords and property managers will process the refund of the bond within a few days, however be aware that RTA processing times can be 2 to 3 weeks sometimes. However, if you believe you’ve fulfilled your tenant obligations but the landlord or property manager disagrees, a process exists to resolve such disputes. Tenants often hesitate to assert their rights due to a lack of awareness or fear of potential repercussions. Dispute resolution procedures may vary by state, but they generally follow a similar framework. When the landlord claims part of the bond, the tenant is typically given a specific timeframe (usually 7-14 days) to respond. If you anticipate a bond dispute, it’s beneficial to familiarize yourself with the relevant laws in your state.