Landlords15 June, 2022

A Quicker, Cheaper Way to Finalise Your Rental Bonds Online

A Quicker, Cheaper Way to Finalise Your Rental Bonds Online

Settling bonds and arranging refunds are time-consuming and laborious tasks for tenants. Worst of all, many tenants have to pay a new bond before receiving their existing bond, putting severe strain on finances.

At ZeroBonds, we know this method is unfair and outdated, so we decided we could do it better; a more affordable, reasonable way to pay your rental bond online.

A brief introduction to rental bonds

A bond is money you pay to your landlord that is withheld until the end of your tenancy in case the property is damaged or the rental agreement is broken. The bond can be a maximum of four weeks of rent.

Your agent or landlord will request payment of the bond after you sign a lease and then lodge the bond with Fair Trading.

At the end of your lease, you’ll be able to submit a claim to have your bond refunded. If you have fulfilled your obligations under your rental agreement, you’ll receive your bond back in full. However, your landlord will have 14 days to dispute your bond return should any issues arise.

They can claim money from your bond to cover costs such as:

  • Unpaid rent
  • Damage to their property
  • Any unpaid bills such as water usage
  • Any cost to change the locks if you don’t return the keys to the property
  • Unpaid fees if you break the lease early
  • The cost of cleaning if you don’t leave the property reasonably clean
How to ensure your bond is returned at the end of your tenancy

Ensuring your bond is returned is relatively simple:

  • First, make sure all rent is paid up to your final date, even if you moved out before.
  • Give your property a good clean before you leave, and make sure you take all your belongings, including rubbish.
  • Tell your landlord about any damage you cause to the property as soon as it happens and arrange repairs before leaving.
  • Pay all fees that you owe, including bills.
  • Don’t forget to return the keys to the landlord or property manager.
The old way VS the new way of paying rental bonds

Before moving into a new property, it is a legal requirement for the resident to pay four weeks’ rent upfront to cover a bond. You’ll pay this rental bond online or to your property manager, who will lodge it with the relevant authority for the duration of your lease.

This bond is reserved until the end of your tenancy. When your tenancy ends, you’ll have two weeks to apply for your rental bond online, but the process could take longer if your landlord disputes your application.

Considering NSW’s current economic climate, this financial strain can be hard to swallow for those who would much rather have this amount of money allotted to cover other expenses.

The ZeroBonds way is infinitely better.

How does ZeroBonds help tenants with the rental process?

The ZeroBonds process is so simple that once done, you might wonder, ‘is that it?’ We’ve labeled it as a rental revolution for a reason. There are four simple steps in our process that aim to make the rental process as simple as possible for you.

An online process made quick and easy:
Foremost, as a tenant, you will need to provide the following documents critical to your application:

Once documents have been submitted, your ID is verified, and you’ve successfully met our credit check, all that is required is a $49 fee and 14.5% of the total bond amount payment.

Using your hard-earned money on you

With ZeroBonds, whatever cash you would have paid as a bond is yours to spend (minus a small fee).

You could use it to set up a luxury home office to ensure you’re as productive as possible in your new home, save money for a rainy day, or even invest it in a new business, shares, or more. You could even treat yourself to a holiday, a gaming system or a new wardrobe.

ZeroBonds is the better way to pay your rental bond online.

Whatever you decide, ZeroBonds wants to ensure your rental experience is as seamless and stress-free as possible. Our entire process means tenants can focus on what really matters: feeling at home.