The idea of losing your security bond can be a dreadful thought to many. There are many reasons why agents hold back bonds however getting your bond back is easier than you might think. All you need to do is follow this 5 step guide, maintain your property and build a good relationship with you property manager.
Step 1: Understand Your Tenancy Agreement
A tenancy agreement, also known as a lease agreement is a legally binding contract between the tenant/s and property owner/manager. Many people make the mistake of not reading this document however it is important that this agreement is read and understood by all whom sign the contract. It has vital information that can save you lots of money if adhered to. You will find key information such as the period of tenancy start and end dates, conditions that could terminate the agreement and the duration of your notice period among other similar topics.
A property manager is able to add special terms to the agreement such as allowing pets to reside within the dwelling or pass on the liability for tenants to pay for particular services or maintenance. These terms should be agreed upon prior to signing the contract. Once the document has been received, the tenant has 5 days to sign the contract and return it to the letting agent. The property manger in turn has 14 days to provide the tenant with a copy this agreement as well as the pocket guide for tenants.
To become more familiar with tenancy agreements visit the Residential Tenancies Authority of Queensland, you will get a better idea of all the rules and regulations about the general tenancy agreement (Form 18a).
Step 2: Give Notice at the Right Time
Failing to inform your property manager that you will not be renewing your lease in Brisbane, Queensland at the right time can cause you to lose your security deposit. Many property managers claim that they did not receive a letter from their tenants as way to deduct funds from your bond money. It is important to write a letter that clearly states your intentions to move out of the dwelling. You are not required to justify your reason for leaving the property, you simply need to notify the managing agent of the the date you intend on handing back the keys as it will be served as a notice of intention to leave (Form 13). Keep a copy of your communica