Rent, Bond & Holding Deposits: Victoria Tenant Guide

As a tenant in Victoria, understanding your rights and obligations regarding rent, bond, and holding deposits is crucial. This guide breaks down these key areas to help you navigate your rental experience smoothly.

Understanding Your Rent

Rent is the regular payment made by a tenant to live in a property. In Victoria, rent should be agreed upon before the lease begins and must adhere to certain regulations.

Rent Increases

Landlords can only increase rent at certain intervals, and must provide notice before doing so. According to the Residential Tenancies Act 1997, a rent increase can occur once every 12 months in Victoria.

Paying Rent

Rent can be paid via various methods, including direct debit or BPay. Ensure you get a receipt for every payment made.

Bonds: Your Security Deposit

A bond is a financial security collected by landlords at the beginning of the tenancy. It covers any potential damage or unpaid rent.

Bond Lodgement

The bond must be lodged with the Victorian Residential Tenancies Bond Authority (RTBA). Tenants can track their bond status through the RTBA's online service.

Bond Return

When your tenancy ends, the bond should be returned if there are no outstanding issues. Use the RTBA's official Bond Claim Form to apply for your bond return.

Holding Deposits

A holding deposit may be requested to secure a property before the lease is signed. This deposit is typically refunded when the agreement begins.

Tip: Always ensure agreements are in writing and keep copies for your records.

Key Takeaways

• Rent can only increase once every 12 months, with proper notice.
• Your bond protects both you and the landlord; ensure it's registered with the RTBA.
• Always verify terms of any holding deposits and retain written confirmation.

Need Help? Resources for Renters

• Consumer Affairs Victoria: Offers guidance and assistance on tenancy issues. Access their resources here.
• Victorian Civil and Administrative Tribunal (VCAT): Handles tenancy disputes. Learn more here.
• Tenants Victoria: Provides free advice and advocacy for tenants. Visit their website here.

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1. What is the maximum frequency of rent increases in Victoria?Every 12 months.
2. Where should bonds be lodged in Victoria?The Victorian Residential Tenancies Bond Authority (RTBA).
3. What is a holding deposit used for?Securing a property prior to lease signing.

1. How to lodge a bond claim after tenancy ends in Victoria:
   1. Fill out the official RTBA Bond Claim Form.
   2. Submit to the RTBA for processing.

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