Unlocking the Legal Jargon: How AI Legalese Decoder Can Aid in Understanding Another Bond Question
- November 27, 2023
- Posted by: legaleseblogger
- Category: Related News
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Subject: Rental Contract and Bond Payment Issues in NSW
I am currently in the middle of my rental contract, which has been ongoing for the past three years with multiple renewals in New South Wales. Recently, the management of the property has changed from the landlord to a real estate agent (REA).
During the initial phase of the tenancy, I made a bond payment which the landlord never submitted to the Rental Bond Organization (RBO). However, I have not made any further bond payments upon contract renewals. I am unsure if I am supposed to top up the bond amount upon each contract renewal.
Now, the REA is claiming that I owe the difference between the original rental rate and the current rate, and they are demanding payment within the next 7 days. This demand has come as a surprise, as there has been no prior conversation or written notice regarding any change in the rental rate. Furthermore, my rental contract clearly states that my bond amount remains the same as my initial payment.
I am uncertain of my obligations in this situation and I am seeking advice on whether I am legally obliged to pay the additional amount demanded by the REA.
How AI Legalese Decoder Can Help:
The AI Legalese Decoder can assist in this situation by analyzing the rental contract and relevant legal documents to determine whether the demand for an increased rental rate is legally justified. Additionally, it can provide insights into the legal requirements for bond payments in NSW and whether there is a legal obligation to top up the bond amount upon each contract renewal. The AI can also offer guidance on how to respond to the REA’s demand in a legally sound manner.
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****** just grabbed a
NSW does not permit bonds to be increased. AFAIK, Qld is the only state which allows adjustment of the bond. Ask the agent (or Fair Trading), where this provision is in the lease.
The Agent is full of shit.
Your existing bond needs to be lodged for your own security.
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You are not required to top it up, but your LL needs to lodge your bond or you can through RBO. Don’t always take what the REA as bible, over my time renting in Sydney, they go to great lengths and will gaslight the hell out of you.