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Pet Bond Update

15 June 2011

The Regulations made pursuant to the Residential Tenancies Act have been amended since June 1st 2011 so that the maximum ‘pet bond’ is $260. 

Owners, with an existing tenancy, through their property manager cannot automatically increase the pet bond from $100 to $260.  
Owners entering into a new tenancy agreement commencing on or after June 1st 2011 can request the pet component of the security to be $260.
The ‘pet bond’ forms part of the total security bond that the tenant can be required to pay under section 29.
For existing tenancies the pet bond cannot be increased unless there is an increase in rent.
Further at least 60 days notice of the increased rent must be given and there must be a 12 month period between consecutive bond increases.

If you have any queries about your rental property don't hessitate to contact your property manager.
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