How much bond is to be charged on a rental property and what type of account does it have to be maintained in?

Hi Linda, thank you for your question.

In NSW a prospective tenant is required to pay the equivalent of 4 weeks rent upfront and the funds are paid to the rental bond board. The funds are not held in trust by the real estate agent so it is important when you do pay the bond you make the payment to the rental bond board.

I notice you’re in Northern Territory so here’s a link that you might find useful:

https://nt.gov.au/property/renters/security-deposits-bonds

All the best

Peter