NSW Returning bond to tenants

How long does the landlord have to return the bond to the tenants? I'm being pushed to release it as my agent says it needs to be done within 48 hours from vacating. That doesn't seem right as previously it was held longer than that.

I can't really find a definitive answer on the fair trading site but it suggests its 14 days.

 

Is there any claim to be made against the bond (for unpaid rent, cleaning, non-fair-wear-and-tear repairs etc)?

If so, then the agent needs to be diligent in getting the costings finalised promptly, so that the claim can be made and the tenant informed accordingly.

If not, the bond should be released back to the tenant immediately.

 

Why don't you want to release it?
Exit inspection should be done asap after vacating, and unless there are damages, there should be no reason to hold it after that.
Its understandable the tenants would want it back asap.

 

As soon as possible - it’s their money

 

I don't understand this ......... I thought that in NSW the Bond is held by the Rental Bond Board? In WA it is called the Bond Administrator.

The landlord or REA doesn't hold the Bond and simply completes a Bond disposal form within a reasonable time at the end of a tenancy (providing both tenant and Agent agree and sign the form). The bond then would normally take 7-14 days to be returned to the various parties.

So if the landlord is actually holding the Bond it would seem to be in contravention of the RTA.

But nothing would surprise me given the varying different laws between each of the states.

 

Sorry i should have been more clear. I'm not holding the bond. Its been submitted to the bond registry (or whatever you call it). But they will need my okay to release it. My question is relating to me giving the ok.

While there are no claims for damages involved, there are some outstanding discrepancies with the account at the moment hence why I'm a bit confused why I am being pressed to release it when things have not been settled properly.

 

You would only release the bond once you're sure the tenant has paid up to date. If there are any discrepancies, don't refund the suspected amount in question.

48 hours is a straight out lie- For starters, they've got three days just to complete the exit inspection, and then the bond can be refunded whenever it's ready. There's no time limit at all.

 

I don't know how to proceed with this. My agent won't investigate it any further and says the software cannot be wrong. I asked her to count the days but she refuses to believe the software they have been using for decades is wrong. Any suggestions?

 

If the lease start date and the vacate date and the rent-per-period have all been entered correctly then the software will not be wrong.

 

There's one catch - in NSW if the bond refund form is lodged without the landlord/agent's signature by the tenant, the landlord/agent has only the 14 day notice period to challenge it, or it is released as uncontested (s164, s167(d), Residential Tenancies Act 2019).

 

You can take the entry and vacate dates, then calculate rent payable for the period against what you've received to see if the amounts match.

 

They don't I'm out by exactly one day and the agent doesn't want to know about it.

 

Could it be that the tenants aren't supposed to be charged for the final day? Just like if I was checking out of the hotel, I'm not charged for the day of check out?

But they held on to the keys and access to the property for the entire day... they actually missed handing in the keys on time and returned it the next morning. I was of the impression that they are charged for the vacate day, but perhaps this is where the one day is falling short if my understanding is wrong?

**EDIT Just to clarify, the extra day missing is not for the returning the keys back late. It's for the vacate day. If this wasn't supposed to be charged, then everything reconciles. But I was under the impression it was charged. So if they said they vacate 1/7, do they pay rent up to and including the 1/7?

 

IMHO the tenants were busy moving out and were unable to return the keys until the next day, for heavens sake, if that's all you are worried about, you had good tenants - give them a break and return their bond.

 

You are correct if what I recently experienced is anything to go by.

I pay for the final day (move out date) and if the keys are not returned by whatever time it is that day, then another days rent may be charged. I can only imagine the 'may be charged' is more a provision to than a promise to - especially if the keys were returned first thing the following morning.

I would expect you are technically correct, but on something that is not really enforced, afterall the PM is not going to be doing anything until the following day anyway.

 

I'm not dispute or charging them an extra day for returning the keys late. I'm just charging them up to the day they said they will vacate. I'm just trying to figure out where the discrepancy is. If the date they said they vacate is not inclusive, then it is where the shortfall is. But is it?

I only indicated they return their keys late to point out the fact they had the access to the property for the full day so why wouldn't it be considered a day in rent? But perhaps the last day isn't supposed to be charged, I don't know so want to clarify the understanding.

 

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I think, theoretically the rent goes from midnight to midnight.
I hope this helps

 

Thanks.

Here is the thing, June has 30 days. If I put in in the above calculator 1 June 2020 to 1 July 2020, it returns 30 days. If you count the number of days, it's 31. I must be missing something and I'm trying to work out what it is. Is anyone able to explain please? I'm okay if its 30 days, I just want to understand why.

The only explanation I have at the moment is either the move-in day or the move-out day is not supposed to be charge as rent, but I haven't seen anything to support this.

If it's midnight to midnight, its still 31 days. Unless the midnight you are referring to is 00:00 2/6/20 - of which I'm back to the same problem that a day (1/6/20) is not counted.

 

Wow. Whilst I understand you're confused about this, it come across more then a little petty. For 1 day's rent. It sounds like you are at an impasse with your real estate, and its your old tenants who are the ones caught in the crossfire here. At some point you just have to let it go and move on. And if you really cann't let it go, then perhaps you need to move on and get a new real estate agency. But either way, your tenant just want their bond back, and really have done everything the real estate have told them. Do you really think its fair to hold them hostage over a disagreement with your real estate about 1 days rent?!