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RESIDENTIAL TENANCIES ACT 1997 - SECT 31 What is the maximum bond?

RESIDENTIAL TENANCIES ACT 1997 - SECT 31

What is the maximum bond?

S. 31(1) amended by Nos 67/2010 s. 94, 45/2018 s. 22(1)(2).

    (1)     Subject to this Act, a person must not demand or accept in relation to a residential rental agreement a bond the total of which exceeds—

S. 31(1)(a) amended by No. 45/2018 s. 22(1).

        (a)     the amount of rent payable under the residential rental agreement for one month, unless an order is in force under section 33; or

        (b)     the maximum amount of the bond determined under an order in force under section 33.

Penalty:     60 penalty units.

S. 31(2) repealed by No. 45/2018 s. 22(3).

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S. 31(3) amended by No. 45/2018 s. 22(4).

    (3)     Subsection (1) does not apply to a residential rental agreement if the weekly amount of rent payable under the agreement exceeds the prescribed amount.

S. 32 amended by No. 45/2018 s. 345(1).