Victorian Consolidated Legislation

Residential Tenancies Act 1997 - SECT 31

What is the maximum bond?

31. What is the maximum bond?



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

   (a)  the amount of rent payable under the tenancy 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: 5 penalty units.

(2) Subsection (1) does not apply to a tenancy agreement-

   (a)  relating to premises that, immediately before the tenancy agreement
        was entered into, were the landlord's principal place of residence;
        and

   (b)  that states that fact; and

   (c)  that states that the landlord intends to resume occupancy of the
        premises on the termination of the tenancy agreement.

(3) Subsection (1) does not apply to a tenancy agreement if the amount of rent
payable under a tenancy agreement for 1 week exceeds-

   (a)  $350; or

   (b)  if a greater amount is prescribed for the purposes of this section,
        that greater amount.