Council - Bonds (Melbourne)

With my 4 townhouse development in Thomastown I was required to pay $4000 landscaping bond prior to commencement of build.

If you are selling/sold (OTP) townhouses on completion of the project you will need to ensure that you apply to council for the refund of the bond prior to settlement. Council inspect the property.

It is important to do this prior to settlement otherwise the bond will be refunded to the new owners and you receive nothing, apparently this comes under the Act. (not sure which Act exactly, but it is law)

Mtr

 

Thanks MTR - this is very useful information. Was that $4k per townhouse?

 

$4K for the 4 townhouses.

 

Thanks, similar to what I paid (per unit). Im not planning on selling, but good to know!