Q & A: I am moving into an existing share house and my new flatmate has asked for a bond. How can I make sure that I get this back?

As this is an existing share house your new flatmates would have already paid the bond when they moved into the property. In this situation flatmates pass bond money between themselves for any new tenants coming in and going out.

You will need to fill out a Change of Shared Bond Arrangement form (this form may be called something different in your state) and this is to be lodged with your State Authority (i.e. in Queensland it is the Residential Tenancies Authority). Usually your real estate agent will do this on your behalf. Be sure to keep a photocopy of this form for your own records.

If you choose to move, and your flatmate stays, you will have to fill out another one of these forms and get your flatmate to refund your bond or lodge a Refund of Rental Bond form (depending on your state this called something different). Bond money does not usually get refunded until the tenancy has ended. So if you are the only tenant moving out, usually you will be refunded your share of the bond by the other tenants, or by the new tenant moving in. For more information contact your real estate agent.