South Australian Current Acts

RESIDENTIAL TENANCIES ACT 1995 - SECT 61

61—Bond

        (1)         A person must not—

            (a)         require more than one bond for the same residential tenancy agreement; or

            (b)         require the payment of a bond exceeding the relevant limit.

Maximum penalty: $35 000.

Expiation fee: $2 000.

        (1a)         A bond must—

            (a)         be paid to the Commissioner or the landlord in the manner and form approved by the Commissioner; and

            (b)         be accompanied by the information determined by the Commissioner.

        (1b)         For the purposes of this section, a payment of an amount by way of a bond to a landlord's agent will be taken to be a payment to the landlord.

        (2)         If at least two years have elapsed since a bond was given or last increased, the landlord may by written notice to the tenant require the tenant to increase the bond by a specified additional amount, within a specified period (which must be at least 60 days from the date of the notice), but not so that the total amount of the bond exceeds the relevant limit.

        (2a)         A requirement under subsection (2) has effect as if it were a term of the residential tenancy agreement.

        (3)         The "relevant limit" is—

            (a)         if the rent payable under the agreement does not exceed an amount (which must be at least $250 per week) prescribed by regulation for the purposes of this paragraph—four weeks rent under the agreement;

            (b)         if the rent payable under the agreement exceeds an amount prescribed by regulation for the purposes of this paragraph—six weeks rent under the agreement.

        (4)         The relevant limit is, in the first instance, calculated by reference to the rent—or if the rent varies, the lowest rent—payable during the first six months of the tenancy (expressed as a weekly rent) and if there is to be an increase in the amount of the bond, the relevant limit is calculated by reference to the rent (expressed as a weekly rent) payable when the notice of increase is given.

        (5)         For the purposes of determining the relevant limit, any amount payable under a domestic services agreement collateral to the residential tenancy agreement is not to be regarded as rent.