As the end of 2024 approaches, Australia is entering peak moving season, and renters across the country are gearing up for one of the most stressful parts of moving—getting their bond back.
In this two-part series, The Briefing delves into the complexities of the rental bond system.
Click the link below to listen the full episode:
In Part Two, host Bension Siebert speaks with Leanne Pilkington, President of the Real Estate Institute of Australia, to explore the landlord and agent perspectives on rental bonds.
Pilkington sheds light on the challenges landlords face, such as dealing with nightmare tenants, and discusses the role of real estate agents.
“You’d be surprised what some people will actually do to a property, but thankfully, as I say, it’s very unusual,” Pilkington said.
Although most real estate agents are paid by landlords, Pilkington argued they can still serve as fair mediators between tenants and landlords.
“I think the majority of real estate agents are quite fair. They don’t want to be taking money out of bonds unless they have to, unless it’s justified,” she said.
In Australia, research shows that about 60 per cent of tenants get their bond back in full, while 40 per cent do not.
Pilkington shared her views on potential reforms to make the process fairer and less stressful for everyone involved, including reducing the size of bonds and streamlining dispute resolution processes.
“So when the numbers are still that high, I think you’ve got to accept that there is a need for the bond.”
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