How long does it take to receive rental bond back?
Receiving your rental bond back is an important part of moving out of a rental property. The time it takes to receive your rental bond back can vary depending on a few factors.
**In most cases, it can take anywhere from 7 to 14 days to receive your rental bond back.**
There are a few key factors that can impact the time it takes to get your rental bond back:
1.
Is the property in good condition?
If there are no damages or outstanding bills, your bond can be returned fairly quickly.
2.
Did you provide all necessary documentation?
Make sure you provide your landlord or property manager with all required documentation to process your bond refund.
3.
Is there a dispute over the bond amount?
If there is a dispute over the condition of the property or any outstanding charges, it may take longer to resolve and receive your bond back.
4.
Are there any outstanding bills or rent owed?
If you have unpaid bills or rent, your bond may be used to cover these costs, delaying the return of your bond.
5.
What is the process set by the rental agency?
Some rental agencies have specific timelines and procedures for returning bonds, which can impact how long it takes to receive your bond back.
6.
How are you receiving your bond refund?
The method of refund, whether it be by cheque, direct deposit, or another means, can affect the time it takes to receive your bond back.
7.
Have you provided your new address for the refund?
Make sure to provide your new address to the landlord or property manager so they can send the bond refund to the correct location.
8.
Is the rental property managed by a government agency?
Properties managed by government agencies may have different procedures for returning bonds, which can impact the timeline.
9.
Did you follow the proper procedure for ending the tenancy?
Following the correct procedure for ending your tenancy can help ensure a smooth and timely return of your rental bond.
10.
Are there any outstanding repairs needed?
If there are repairs needed to the property, the cost may be deducted from your bond, prolonging the return process.
11.
Is the rental property part of a strata scheme?
If the rental property is part of a strata scheme, there may be additional factors that can impact the time it takes to receive your rental bond back.
12.
Have you kept records of the condition of the property at the start and end of the tenancy?
Keeping thorough records of the property’s condition can help resolve any disputes and expedite the return of your bond.