Tasmania landlords - use these template forms to document the receipt, lodgement and disposition of security deposit (rental bond) funds collected from tenants of residential properties in Tasmania.
How much can the landlord charge for a security deposit under Tasmanian law?
Except in the case of boarding premises, a landlord in Tasmania can charge a security deposit, the total of which must not exceed 4 weeks' rent. The landlord cannot require more than one security deposit in relation to any one residential tenancy agreement, so if there are two or more tenants sharehousing under the agreement, the landlord is still only allowed to charge a single security deposit.
When must the landlord refund the deposit to the tenant?
At the end of the tenancy, the landlord must return the security deposit to the tenant within 3 business days, together with the prescribed amount of interest (if any), less any deductions made by the landlord for unpaid rent, damage or expenses that the landlord is allowed to deduct. If deductions are made, the landlord must also give the tenant a notice stating the reasons for the deductions, a statement of the loss incurred by the landlord, or an estimate of the date on which the landlord expects the loss to be determined.
The foregoing summary is provided for information purposes only and is not to be considered legal or business advice. The information may not be complete, accurate or applicable for any particular situation and should not be relied upon.
