Residential Tenancies Act 1987

The amount of the security bond for a residential tenancy agreement can only be increased in accordance with this section.

If a notice of increase in rent is given under section 30 or 31A in relation to a residential tenancy agreement, the lessor may increase the amount of the security bond for the agreement by giving the tenant a written notice that states —

the amount by which the security bond is increased (the additional amount); and

the day on which the additional amount is payable.

For the purposes of subsection (1A)(b), the day on which the additional amount is payable cannot be a day —

earlier than 60 days after the day on which the notice under subsection (1A) is given; or

before the rent increase the subject of the notice given under section 30 or 31A takes effect.

Despite section 29(1)(b), a person may receive, but may not require, the payment of the additional amount before the day on which the additional amount is payable.

The amount of a security bond may not be increased under this section to an amount that would exceed the aggregate of —

4 weeks’ rent under the residential tenancy agreement at the time at which the amount of the increase would be payable; and

any amount provided for by section 29(1)(b)(ii).

A notice of increase of the amount of a security bond that has been given in accordance with this section and that has not been withdrawn by the lessor varies the residential tenancy agreement to the effect that the amount of the increase specified in the notice is payable under the agreement on the day specified in the notice.

Section 29(4) and (5) apply to an amount paid under this section.