Rental Deposits

[Guest Gemmie]

Hello All

 

I read somewhere recently that long term rentals require upto 3-6 month rent as deposit this seems very very high that could be as much as $11500. Please tell this is a mistake?

[wizzywozza]

The bond is 4 weeks rent + 2 weeks in advance for rents under $250 a week, and 6 weeks rent + 2 weeks in advance for rents over $250 a week.

[Guest bishop3912]

Yep agree with wizzywozza, our rent is $500 pw and we had to pay 6 weeks rent & 2 weeks in advance. Bishop3912

[Guest Nick11]

Yep ,the above is correct. The landlord doen't keep the deposit ...he has to lodge it with the sa governement...http://www.ocba.sa.gov.au..so if at the end of your tenancy you are in dispute with your landlord over the return of the deposit...they will step in and mediate. They are excellent. It's very simple and they are extremely efficient.

[wizzywozza]

Thx for putting the extra info on Nick11 ...... I didn't have time as was at work We've just got our lease renewal notice (long term renters) and so pleased to see NO increase in our rent this year! I was really surprised to say the least.Sharon

[Guest Gemmie]

Thanks for the quick reply. That certainly is a relief!!