“My lease is coming to an end. I’ve decided not to stay in my current rental, but move to another property managed by my current agency. Can I have my bond transferred to the one I am planning to rent? Or will I have to pay again?” – Geeta (NSW)
We asked Managing Director at Murray Property, Michael Murray, for his advice.
“Hi Geeta. For tenancies in NSW, a rental bond can be transferred if all the tenants registered for the current bond are all moving to the new tenancy and the current landlord or managing agent is not claiming part of it,” Michael said.
“The difficulty with transferring a rental bond is that you will be required to pay the amount in full prior to the commencement of your new lease, however the current landlord or managing agent won’t be able to give confirmation of a full refund until you have vacated your current property and a final inspection has taken place.”
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