Residential Tenancies Act 1987

One, some or all of the parties to a residential tenancy agreement may apply to the bond administrator, in the approved form, for the security bond for the agreement to be released (a security bond release application).

The security bond release application must state the amount of the security bond to be paid to each party to the residential tenancy agreement.

The security bond release application must not be made before the residential tenancy agreement terminates.

However, the security bond release application may be made before the residential tenancy agreement terminates if —

the tenant or, if there are co‑tenants, all of the tenants deliver up vacant possession of the premises; and

the parties to the agreement agree in writing to terminate the agreement.

The lessor and property manager must not ask or require a tenant to sign a security bond release application unless —

the residential tenancy agreement has terminated or subsection (4) or section 81D applies; and

the application states the amount of the security bond (if any) to be paid to the lessor and the tenant or, if there are co‑tenants, each tenant.