FAQs on Rent, Bond & Holding Deposits

Being a renter in New South Wales means you're part of a vibrant rental market. Whether you're new to renting or a seasoned tenant, understanding your rights and obligations concerning rent, bond, and holding deposits is crucial. This article explores frequently asked questions about these aspects to ensure you're well-informed and prepared.

Understanding Rent in New South Wales

In New South Wales, your rental payments are governed by the Residential Tenancies Act 2010. Your lease agreement should clearly outline how much rent you need to pay and when it's due. It's essential to adhere to this agreement to maintain a good renting record.

What Happens if My Rent is Increased?

Landlords can increase rent, but they must give 60 days' written notice. If you receive an increase notice, ensure it's consistent with your lease terms. To dispute an unfair rent increase, you can apply to the New South Wales Civil and Administrative Tribunal (NCAT).

Bond and Holding Deposits: Key Insights

A rental bond is a security deposit paid at the start of a tenancy, capped at four weeks' rent.

How Do I Claim My Rental Bond Back?

To claim your bond, use the Rental Bond Claim form. At the end of your tenancy, both you and the landlord should agree on the refund amount. If there are disputes, the matter may need to be resolved through NCAT.

Holding Deposits Explained

A holding deposit is an amount you may pay to hold a property while you sign the lease. This deposit legally binds the landlord to not lease it to another until you have signed.

Tip: A holding deposit is refundable if you decide not to proceed with the tenancy.

Common Obligations and Entitlements

• Returning Holding Deposits: If you choose not to proceed, the landlord must refund your holding deposit within seven days.
• Rental Increases: Regularly review any rent increase notices for compliance with the standard terms in your lease agreement.

Need Help? Resources for Renters

• Tenants' Union of NSW - Provides legal advice and information.
• NSW Fair Trading - Offers official guidelines and assistance with rental disputes.
• NSW Civil and Administrative Tribunal - Handles formal disputes between tenants and landlords.

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1. What if my landlord doesn’t return my bond?

   If your landlord refuses to return your bond, apply to NCAT for assistance in resolving the dispute.

2. Can my landlord request a holding deposit after I sign the lease?

   No, once you sign the lease, a holding deposit is no longer applicable or necessary.

3. Is it legal for a landlord to increase rent during a fixed-term lease?

   Rent increases during a fixed-term lease are only permitted if specified in the rental agreement.

1. How to challenge a rent increase in New South Wales

   To challenge a rent increase, first review the notice you received for compliance with your lease and state regulations. Then, respond in writing to your landlord if you wish to negotiate or dispute the increase. If unresolved, consider applying to NCAT.

2. How to apply for a bond refund

   Use the official Rental Bond Claim form from NSW Fair Trading, agree on the amount with your landlord, and submit the form as instructed on their site.

Key Takeaways

• Always review your rental agreement and increase notices carefully.
• Holding deposits should be refunded if you decide not to proceed with the lease.
• Disputes over bonds and rent increases can be resolved through NCAT if necessary.

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1. Residential Tenancies Act 2010
2. NSW Fair Trading’s Rental Bond Claim Form
3. NSW Civil and Administrative Tribunal

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