82/16 Midgegooroo Avenue, COCKBURN CENTRAL, Apartment for Lease - First  National Real Estate

It might take a lot of work to find a suitable rental. Renters have a lot of responsibilities and duties, and it may be particularly challenging for new tenants who need to become more familiar with the ropes of renting. First-time tenants are often bombarded with so much data that it may take a lot of work to remember it all.

You will be aware that you will be required to pay a bond and several weeks’ worth of rent in advance. To be clear, however, what exactly is a bond payment? When you move out, do you get it back? Why is it possible that you won’t see that cash again?

If you’re curious about these topics and want to learn more from the property consultant Cockburn, keep reading.

Definition Of Bond Payment

If a landlord requires a bond, it’s because they want some additional assurance that the tenant can afford to pay rent.

Landlords may refrain from spending their own money in the event that a former renter fails to pay any fees for which they were accountable after they have moved out.

The bond is kept by a third party during the duration of the lease and returned to the tenant when the landlord or real estate agent has completed an inspection of the property after the tenant’s departure.

Various Reasons Why You Might Not Receive Your Bond Payment

Are there any situations in which you would not be eligible for a bond refund? Property consultant Cockburn listed the following reasons why you will not be able to get your bond payment.

Property Damage

The management and landlord should anticipate the normal wear and tear that comes with a tenant using the space. It is the landlord’s obligation to replace worn-out fixtures or replace the carpet in high-traffic areas; this wear and tear will not influence the recovery of your security deposit.

However, the bond payment may be withheld to cover the expense of fixing damage that goes beyond normal wear and tear, such as soiled or ripped carpets or holes in the walls or doors. If the landlord gives permission, these repairs might be made before the tenant moves out. Check with your property management before doing any repairs on your own, just to be safe.

Unpaid Rent

It is incumbent upon you as a renter to maintain timely rent payments. Rent notifications are a reminder that you have a legal obligation to pay rent regardless of whether or not you have signed a lease. The property manager may deduct that amount from your security deposit if you are late on your rent and turn in the keys.

Unauthorised Alterations

It is common practice for landlords to stipulate in their lease agreements that tenants must return the property in the same condition as when they leased it. If renters make changes to the property without the owner’s permission, the bond money may be used to restore it to how it was before the tenants lived there. This includes things like tearing down walls, repainting, and replacing carpets.

You must get the landlord’s approval before making any changes to the rented property.

Inadequate Cleaning

When renters move out, many landlords stipulate that they must clean the space. In order to get a full security deposit refund, the renter must guarantee that the rental unit is just as clean when they move out as it was when they came in. The move-out cleaning cost might be deducted from your security deposit if the premises need to be more satisfactory.

Mould

Mould grows in moist conditions and may pose health risks to those living in the house. Mould remediation charges may be deducted from your security deposit if they are paid after the next renter moves in. To avoid this, make it a habit to inspect damp spots for signs of mould growth routinely.

Failed To Return Key

Property consultant Cockburn recommends that you return the key. If you move out but forget to return the keys, the property will be unsecured until you pay to have the locks changed or new keys made, which is covered by the security deposit. All new tenants need to feel safe and comfortable moving into the building.

By switching out the locks, you can be certain that only the present tenants and management staff will have access to the building in the future.

Reliable Tenants

Excellent renters usually keep the home in pristine condition. If you can avoid the missteps mentioned above, you will likely get your whole security deposit refunded and will have an excellent recommendation for future rentals.

Final Words

Good luck with your rental search! We hope this information provided by property consultant Cockburn helped explain bond payments and the factors that might prevent you from getting your bond back when you move out.