How to Apply for a Bond Loan in ACT

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How do Bond Loans work in ACT?

Most landlords or agents will ask you to pay a bond when renting a residential property. A bond acts as a security for the performance of the tenant’s obligations under a residential tenancy agreement. Lessors and agents are not required by law to take a bond from a tenant, however, if they do receive a bond, they are required to lodge it with the ACT Revenue Office. Bonds can be any amount up to a maximum of four weeks rent. Lessors and agents must give the tenant a receipt as proof of payment of the bond. Occupancy agreements may require a security deposit be paid. 

Accurate at March 2024 – Source – ACT Government