Changing a bond (Bond variation)
A security bond may need to be changed/varied because:
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the amount of bond money permitted to be charged may change (this usually means the amount being held by the Bond Administrator may be increased because the rent has been increased);
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one or more of the tenants in a shared household may decide to move out;
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the ownership of a property may change; or
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a lessor may employ a different managing agent.
Lodging changes with the Bond Administrator
Private lessors/landlords
A variation of security bond form must be filled out, listing the changes,and lodged with the Bond Administrator by post, email or in person. Please note this is not to be used by agents.
Real estate agents and property managers
From 1 September 2016, a licensed real estate agent must make any changes to a security bond via the BondsOnline system as an eTransaction.
Making changes
Changes in shared tenancies
In situations where joint tenants are named on the lease agreement and one or more decide to leave or is replaced (with the consent of the lessor/agent by new joint tenants), all parties can elect to change the lease agreement and have the bond paid out, then replaced by a new bond.
Alternatively a variation of security bond form can be used to notify the Bond Administrator of the change, so at the end of the tenancy the bond can be paid out to the current parties. The incoming tenant can pay the departing tenant their share of the bond.
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When a signatory is uncontactable
A tenancy bond is similar to a joint bank account where all parties to the account must sign to make withdrawals. If a tenant or lessor or agent has changed without any notification of the variation being lodged and is no longer available to sign a disposal form at the end of the tenancy, then the Bond Administrator will not be able to refund the bond.
In a residential tenancy matter, if an original signatory is missing you will have to go to the Magistrate's Court and ask for a court order to get the bond released.
If any signatories are missing in a residential parks long-stay tenancy you will have to make an application to the State Administrative Tribunal for a determination on how the security bond is to be disposed.
Decreasing a bond
There is no obligation on the lessor/agent to agree to partially refund the bond during a tenancy.
However, if the lessor/agent agrees, a bond can be decreased when there has been a reduction in the weekly rent amount or a pet bond is held for a pet and the pet no longer resides at the premises.
To request a partial bond disposal during a tenancy you will need to complete a Joint Application for Disposal of Security Bond form.
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A bond decrease can only occur during a tenancy agreement when the payment is to the tenant/s.
The Residential Tenancies Regulations 1988 provides an exemption from section 29(8) of the Act to enable a disposal form to be signed during a tenancy for the purpose of decreasing the bond in certain circumstance.