Property Management Blog

Taking a Rental Bond for an Investment Property

Sarah Pewhairangi - Monday, October 15, 2018

Taking a Bond

How much bond do you take from the tenant?

The Residential Tenancies Act permits a bond of up to four weeks rent. A bond equivalent to 3 weeks rent is our standard bond, however, in some circumstances, we do request a bond equivalent to 4 weeks rent.

When do you pay back the bond monies?

We only refund the bond after the following has occurred:

  1. The tenant has fully vacated the property and keys have been returned
  2. The property has been inspected and is satisfactory when compared with the commencement inspection report.
  3. All monies are paid. This could be any outstanding rent, water or anything owed by the tenant.