An Adelaide landlord is setting the bond for a new residential lease. What is the most the landlord can require?
Correct Answer
A) 4 weeks' rent, or 6 weeks' rent where the weekly rent exceeds a prescribed amount
Under the Residential Tenancies Act 1995, the maximum bond is generally 4 weeks' rent. For higher-rent properties (where rent exceeds a prescribed threshold), the bond may be up to 6 weeks' rent.
Why This Is the Correct Answer
Under s 61 of the Residential Tenancies Act 1995 (SA), the maximum bond is four weeks' rent, or six weeks' rent where the weekly rent exceeds the amount prescribed by regulation.
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