How Long Does It Usually Take to Get Bond Back

Planning to move to a different house or moving out of your parents’ house requires a lot of awareness and knowledge or information on how things work. Some properties for rent or lease require bonds as an advance payment or security deposit; this is a way for the lessor to protect themselves from lessees that may flake on them. Some lessors use these bonds for end-of-tenancy cleaning, maintenance, and fixing the property if problems arise.

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Factors Delaying the Return of Your Bond

Disagreement on the amount

Upon signing the contract, ensure you and your landlord agree on the same amount of money to be returned to you. This will lessen your landlord’s chances of delaying your refund. Better if you and your landlord have a written agreement on the amount of money to be returned.

Claims on the property

After moving out of the rented or leased property, the landlord will check for property damages before returning the money. If damage is made to the property during your stay, the amount the owner paid will be reimbursed from the rental bond. Before the owner reimburses the said amount from the bond, they shall present proof of billing to the lessee.

If you receive a notice, you can choose to agree or disagree with the said claims of the owner, which, as a result, will delay the return of your money.

Leaving the property in bad condition

Leaving the property dirty or damaged is another reason for the delay in the return of your money. The landlord trusts you and, therefore, will expect you to show good conduct and take care of their property as your own. They will expect to see the same property as before you moved in.

Leaving the property before the actual date of the contract

Leaving the lessor’s property before the agreed contract date could also be a reason for the lessor not to return the renting bond to the lessee. Turning down offers from other people because they expect you to stay until the agreed date is a loss for the lessor.

Using the bond as monthly rent

Another factor that will affect the return of your money is if you cannot pay the monthly due for your property, the lessor has the right to lessen your monthly expenses on the security deposit. Before transferring to a different house, ensure you are financially ready for that property.

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Wrapping Up!

There is no exact date to receive your money or bond back, so consider these factors before relocating. These factors will help you get your bond back as soon as possible or even speed up the process. Knowing that one of the reasons that your bond is delayed is property cleanliness, you should get cleaning services to have it thoroughly checked before leaving the place for good.

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