The rental bond: For most tenants, it’s often one of the biggest costs when moving into a new rental, and that lump-sum dent in the account at the start of the lease.
Typically equating to four weeks’ rent, bonds form a security ‘deposit’ for the landlord, with the aim of having it returned to the tenant in full when moving out – but the outcome isn’t always quite that simple.
In fact, in NSW last year, just under 14% of tenants lost their full bond, with around another 24% losing part of it.
One of the most common factors costing tenants?
Inadequate end-of-lease cleaning – or an entire lack of.
A large number of inspections fail for the sole reason that the rental property does not meet end-of-lease cleaning requirements, with cleaning disputes currently making up 56% of all bond disputes.
So what are the requirements?
When it comes time to vacate the property, tenants are obliged to leave it in a reasonably clean state and the same condition that it was at the start of the tenancy, under the Residential Tenancies Act 2010.
Yet for many well-intentioned renters, falling short of these standards can boil down to using the wrong (or a cheap) cleaning service, which can result in a bond dispute or financial loss at the time of moving out.
But to avoid this happening at all costs, we have two simple tips – and the first starts before moving in.
1. Take the time to read your Property Condition Report.
Also known as your ‘PCR’ – more on that here. The Property Condition Report is a report prepared by your property manager at the beginning of your lease, which records the present condition of the property in great detail. Take it one step further by adding your own notes and photos to accompany the report, for additional visual evidence.
2. Use our Bond Saver Checklist.
This document is your sure-fire way to ensure that your end-of-lease clean – and any repairs to damage – are completely up to scratch. Despite everyone’s best efforts, it’s easy to miss things during a clean (dishwashers, air vents, insides of drawers) – so we’ve made it super simple to check off every item with our bond saver checklist – click the link to download your free version right here:
If in doubt, we recommend to always speak to your property manager about any bond or other concerns you may have, well before your end of lease. Your best bet is to seek to resolve any issues or disagreements with your landlord well in advance.
For further information about how to get your rental bond back in full, please reach out to your local Prudential Real Estate office below.
Prudential Real Estate Macquarie Fields | (02) 9605 5333 | macquariefields@prudential.com.au
Prudential Real Estate Narellan | (02) 4624 4400 | narellan@prudential.com.au
