In Tasmania, a bond (sometimes also called a security deposit) is a payment by a tenant that acts as a security for the owner.

Rental Deposit Authority (via MyBond) is an independent government body that holds bonds in trust for the duration of a rental agreement. It is a safe and secure system for electronic bond transactions that allows you to lodge bonds online in a quick and convenient way.

All rental bonds are managed via the Rental Deposit Authority online through MyBond.

A bond cannot be more than four weeks’ rent, and cannot be increased during the tenancy.
It is illegal for property owners to receive a bond from a tenant and for a tenant to pay their bond to a property owner.
Before paying a bond, the owner and tenant must register in MyBond.

How to Lodge the Bond:

The Rental Deposit Authority (RDA) in holds all rental bonds in Tasmania. You can pay a bond as one amount, or each tenant can contribute an amount, called a 'bond contribution'.

A tenant can only pay the bond once the owner or agent has completed the lodgement in MyBond. The tenant will receive a notification when this has happened.

Register your account with MyBond
Owners Registration - Click here.
Tenants Registration - Click here.
Complete the lodgement Request in MyBond
The owner must complete the bond lodgement form in MyBond so that the tenant can pay the bond.
Tenant Completes Payment
Once the owner lodges the bond details, MyBond sends the tenant a notification asking them to pay the amount and once paid, the bond will be held with the RDA for the duration of the tenancy.

Setting up the Bond on RentBetter

👉 On RentBetter, we recommend that your tenant pays their bond directly to the bond authority. Once you've finalised your lease agreement, you can login to your RBO (Rental Bonds Online) account to lodge the bond.

Once the bond is confirmed as lodged, you can upload any relevant documentation via the bond section in your account.

Bond Lodgement FAQs

What is the maximum bond amount?

A bond cannot be more than four weeks’ rent and cannot be increased during the tenancy.

Does a rental bond have to be taken?

There is no legal requirement to take a bond but it is typically recommended to do so to protect your property in the event of damage or unpaid rent or bills.

How long do I have to lodge the bond?

The bond must be lodged within 10 business days.

Do I need to lodge the bond, or can I keep it in my account?

No. It is illegal for property owners to receive a bond from a tenant and for a tenant to pay their bond to a property owner. The bond must be lodged directly with MyBond and you can register here.

Can RentBetter lodge the bond for me?

Unfortunately, we're not able to lodge the bond on your behalf. You should lodge the bond request directly through the MyBond portal and once the payment has been made by your tenant, the bond will be lodged.

Is the bond able to be increased or 'topped up' through the tenancy?

No - the bond is not able to be increased throughout the tenancy. The RDA holds the money until the end of the tenancy when someone registered against the bond record claims it back.