In a short-term lease (five years or less), if your weekly rent is $350 or less, the bond cannot be more than the equivalent of one month’s rent.
In a long-term lease (more than five years) using Form 2, if the weekly rent is $760 or less, the bond cannot be more than the equivalent of one month’s rent.
A landlord or estate agent may charge a bond that is more than one month’s rent if:
- the tenancy agreement states that the property is the landlord’s principal residence and the landlord intends to resume living there at the end of the tenancy, or
- weekly rent is more than $350 (short-term lease) or $760 (long-term lease), or
- the landlord or estate agent gets an order from the Victorian Civil and Administrative Tribunal (VCAT) setting out the amount of an increased bond.