Bond is a deposit which is taken as security for the room/house rented through Qwik Real Estate. According to consumer affairs Victoria the bond amount is normally charged as a minimum of calendar monthly rent. If the rent increases more than 350 dollars per week, we normally charge 6 weeks rent as security deposit. The bond amount will be returned back once the tenant leaves the property depending on the completion of the exit conditions.
(calendar Monthly = Rent per week / 7 *30.4
Where 7= Number of days in a week
30.4= cumulative of all the days in a month /12)