RESIDENTIAL TENANCIES ACT 1995 - SECT 61
RESIDENTIAL TENANCIES ACT 1995 - SECT 61
(1) A person must
not—
(a)
require more than one bond for the same residential tenancy agreement; or
(b)
require the payment of a bond exceeding the relevant limit.
Maximum penalty: $35 000.
Expiation fee: $2 000.
(2) If at least two
years have elapsed since a bond was given or last increased, the landlord may
by written notice to the tenant require the tenant to increase the bond by a
specified additional amount, within a specified period (which must be at least
60 days from the date of the notice), but not so that the total amount of
the bond exceeds the relevant limit.
(2a) A requirement
under subsection (2) has effect as if it were a term of the
residential tenancy agreement.
(3) The "relevant
limit" is—
(a) if
the rent payable under the agreement does not exceed an amount (which must be
at least $250 per week) prescribed by regulation for the purposes of this
paragraph—four weeks rent under the agreement;
(b) if
the rent payable under the agreement exceeds an amount prescribed by
regulation for the purposes of this paragraph—six weeks rent under the
agreement.
(4) The relevant limit
is, in the first instance, calculated by reference to the rent—or if the
rent varies, the lowest rent—payable during the first six months of the
tenancy (expressed as a weekly rent) and if there is to be an increase in the
amount of the bond, the relevant limit is calculated by reference to the rent
(expressed as a weekly rent) payable when the notice of increase is given.
(5) For the purposes
of determining the relevant limit, any amount payable under a
domestic services agreement collateral to the residential tenancy agreement is
not to be regarded as rent.