How to Get Your Bond Back at the End of Tenancy?

How to Get Your Bond Back at the End of Tenancy?

By : Angelina
At the start of a tenancy, every lessee deposits a security amount which is up to four weeks of rent. Among important tasks related to moving out successfully like the end of lease cleaning, booking removalists and others, one is to get your bond back. The property owner lodges this amount, and the tenant has to do a variety of things to get the entire deposit back.For tenants getting this bond money back is crucial because it helps with getting financial support during a new tenancy or the money can be used for paying for other moving-related tasks. Want to know how to get your bond back at the end of a tenancy? Here is a complete guide by experts in Port Macquarie to help learn the crucial information.

Reread the Lease Agreement

Refresh your memory regarding your responsibilities as a tenant by rereading your lease agreement. Revising the terms and conditions will help you plan for the move efficiently and help you know what is required.For example, reading the contract will provide you clarity on whether you can perform the deep cleaning yourself or have to hire professional end of lease cleaners in Port Macquarie. Similarly, it would help if you gained clarity of various other things by rereading the lease contract.

No Rent Payments are Pending

Paying rent on time and being updated on all payments is necessary for getting clearance of your entire security deposit. Therefore, make sure all dues are cleared up to the day of the movement.Unpaid rent for any month(s) is the reason for landlords to withhold the security deposit until the pending rent is cleared. It is also possible that the outstanding amount will be deducted from your security deposit and the remaining amount will be credited to your account after the claim is made by filling of the form for refund of bond money.

Know what is Fair Wear and Tear

Knowing what is damage to the property and what is fair wear & tear caused by your stay is crucial to get your bond back. Many people lose their bond money or have deductions made from it by the landlord because the property is damaged.For example, the paint on the walls fading due to exposure to sunlight is fair wear & tear, but chipping of the paint due to neglect, blunt force or any other reason is damage. Therefore, before moving out, make sure to inspect the property and get any repairs done to avoid deductions being made for your security deposit.Fair wear and tear is general degradation of the property over time with use which is why you should ask your landlord to provide a list of things considered fair deterioration or you can read what is fair wear and tear according to NSW Fair Trading at the end of a tenancy?

Perform End of Lease Cleaning

End of lease cleaning is one of the most significant tasks to complete for getting your bond back. The purpose of this activity is to return the property in the same sanitary and liveable condition it was in at the time of the occupancy.Most landlords have a clause for the final cleaning in the lease agreement and to claim your bond hiring professional end of lease cleaners in Port Macquarie is required. The property owners or managers need the receipt of the services performed on the property by the booked end of lease cleaning experts in Port Macquarie before the inspection and to release the full bond.

Discuss Bond Claiming with the Landlord

Whether the claim is made by the landlord or the tenant, to get the entire security the claim for refund of bond money should be submitted through Rental bonds online. In case the bond was not lodged through this portal, then a form should be signed by both parties and submitted via post or email to NSW Fair Trading.Make sure to discuss the matter with your landlord to know each party is on the same page regarding the amount to be refunded. Mutual agreement on the amount for claiming and refunding is necessary to avoid dispute and delaying of getting your bond money.In case there is a dispute the party that didn’t sign the claim can get a notice of 14 days to settle the disagreement, and if the matter is not sorted, then the case is resolved by The NSW Civil and Administrative Tribunal (the Tribunal).

The Bottom Line

Moving out of a rented property is stressful and exhausting, especially when the end of the tenancy is near. There are several responsibilities to fulfil and among them, getting your bond back is a significant one. Through this guide, you can get your bond money back as it provides useful insights and necessary information to take the required steps.