Melbourne Bondy McBondface: Your Guide to Rental Security Deposits (with a sprinkle of humor)
Ah, Melbourne. The city of laneway cafes, quirky bars, and... rentals that require a small fortune as a deposit. Yes, we're talking about the bond, that mysterious sum of money that disappears into the ether at the beginning of your tenancy, only to (hopefully) reappear when you move out with nary a scratch on the wall (and definitely no rogue glitter explosions).
But fret not, fellow renter! This guide will be your beacon in the murky waters of Melbourne bond-land.
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| How Much Is Bond In Melbourne |
The Big Kahuna: How Much Exactly Are We Talking About?
Here's the juicy bit: In Melbourne, the bond generally can't be more than four weeks' rent. That's the golden rule, folks.
However, there are a couple of exceptions to this rule, like fancy pants apartments with a rent that would make your grandma faint. If your rent is over $900 a week, the landlord can potentially ask for a higher bond, but they'll need to get special permission from the Victorian Civil and Administrative Tribunal (VCAT).
Tip: Summarize the post in one sentence.
In short: expect to pay around four weeks' rent for your bond, but if your rent is mansion-worthy, there's a chance it could be slightly higher.
So, I Need to Save Up the GDP of a Small Country?
Don't worry, it's not quite that bad. While the bond can feel like a hefty chunk of change, remember it's there to protect you too! It's your security deposit, a kind of insurance policy against any damage you might cause to the property (beyond the usual wear and tear, of course).
Think of it as an investment in your future peace of mind. Plus, you get it all back (hopefully!) when you move out, minus any deductions for damages.
QuickTip: A quick skim can reveal the main idea fast.
Bonus Round: Fun Facts About Melbourne Bonds
- Did you know you don't actually hand the bond directly to the landlord? It goes to a government agency called the Residential Tenancies Bond Authority (RTBA) for safekeeping.
- There's a special kind of bond for rooming houses, where the maximum amount is either one or two weeks' rent depending on your agreement.
Now you're a bonafide Melbourne bond expert (well, almost).
How To FAQs on Melbourne Bonds:
How to Pay My Bond?
The RTBA offers various ways to pay your bond, including online, over the phone, or at participating Australia Post outlets.
QuickTip: Revisit posts more than once.
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How to Get My Bond Back?
Once you've moved out and completed the final inspection with your landlord, you can lodge a claim with the RTBA to get your bond back.
How to Avoid Bond Disputes?
Tip: Take notes for easier recall later.
Take photos of the property's condition when you move in and keep a record of any repairs completed during your tenancy.
How Much Notice Does My Landlord Need to Give Before Claiming From My Bond?
Your landlord must give you 14 days written notice before making a claim on your bond.
How Long Does it Take to Get My Bond Back?
If there are no disputes, you should receive your bond back within 10 business days of lodging a claim with the RTBA.
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