Vacating A Property RBO | Bond Process
As your vacate date is approaching, we wanted to go through the process of what happens when a tenant vacates & what happens regarding the Bond.
The process of how a Bond is returned to an outgoing tenant is a topic we get questions about all the time.
So let’s go through it.
A tenant gives the required notice
The packing, cleaning stage (all the fun stuff)
The tenant hands back the house keys
Agent conducts the exit report (this is the process of checking a property has no damage, lawns mowed etc)
Once the exit report is conducted the agent will contact the tenant where one of two things occur: 1/ There is nothing to be deducted from the Bond 2/ There is something to be deducted from the Bond
Nothing to be deducted from the Bond
The agent goes onto RBO (rental bonds online) this is where you paid your Bond at the start of the tenancy
The agent then processes the Bond to be returned to the tenant
Something to be deducted from the Bond
Firstly it is important to realise that just because there is something to be deducted from the Bond does not mean that the property is damaged (the deduction might be for something such as water usage).
If there is something to be deducted from the Bond, the agent will discuss this with the tenant
The agent then processes the amount to be deducted from the Bond
The tenant then receives an email from RBO saying the agent is claiming a deduction of $xxx
The tenant has to click one of the following options on the email; 1/ they agree with the deduction 2/ they do not agree
If the tenant clicks that they do not agree, the entire matter is frozen & heads automatically to a Tribunal hearing.
It is also worth noting that even if the claim amount is less than the entire Bond amount, it is the entire amount that is frozen.
Now thankfully, disputes don’t occur often. But it is naive to believe that they don’t occur. If the tenant doesn’t agree with the deduction the agent is claiming the first step is negotiating. However, if a suitable agreement cannot be reached, then the only other option is for the Bond to be frozen & the matter heads to the Tribunal.
Here’s an example:
Let’s say the Bond amount is $2,000.
And let’s say the agent has to submit a claim for $250 (for cleaning).
If the tenant clicks ‘don’t agree’ sending the matter to the Tribunal, the whole $2,000 is frozen until the hearing.
Not just the $250.
EXTRA Info
01.
The quickest way to get your Bond back is to allow the agent to start the process.
02.
If you initiate the process yourself, it can lead to delays, including having to go to the Tribunal and potentially waiting weeks or months to get your Bond returned (minus any deductions).
03.
If a tenant chooses the "disagree" option, the full bond amount will be frozen until the Tribunal hearing.
