Quick Answer: How Much Is Bond Rent In Advance?

How much is bond and rent in advance NZ?

Tenants will be required to pay up to two week’s rent in advance plus a bond of up to the equivalent of four weeks rent.

The landlord can only legally claim up to four weeks bond..

How does 2 weeks in advance rent work?

A landlord can ask for 1 or 2 weeks’ rent in advance during the tenancy. This usually depends on whether the tenant will pay rent weekly (1 week in advance) or fortnightly (2 weeks in advance). … The tenant pays 2 weeks’ rent as bond and 2 weeks’ rent in advance. The 2 weeks’ rent in advance pays for the 1–14 February.

How much is a rent bond?

The most bond you can be required to pay is an amount equal to 4 weeks rent (that is, the amount of rent you agreed to pay at the start of the tenancy). The landlord/agent cannot require you to pay a bond to them before you sign a tenancy agreement.

Can I use my bond to pay rent?

NO. It is illegal for a tenant to request that the bond be used to make a rent payment and the tenant is legally required to pay rent up until they vacate the premise and hand over the keys to the landlord.

Do you get your rent in advance back?

So if the tenancy agreement says that rent is payable monthly in advance then that is what the tenant must do. If the tenant then chooses to move out early, that is the tenant’s choice. … The landlord is only bound to refund the rent though, if this was part of a negotiated surrender agreement.

Is rent paid in advance refundable?

There is no requirement for any other prescribed information. Therefore, other than the return of a deposit (which is obviously returned after a satisfactory inspection of the property on termination), if your tenant pays rent one month in advance, you do not have to return any pre-paid rent to your tenant.

Do you pay rent on the day you move out?

As long as you live in the unit, you have to pay rent. If you give notice the day you drop off your rent check and leave right as the next rental period starts, that rent check is your last. If the timing’s different, you may, for example, pay on the first of the month and give notice on the 12th.

What are tenants responsible for when moving out?

Thoroughly clean the property before vacating the premises. Leave the property in as close to move-in state as possible to maximize your chances of recovering your security deposit. Replace any broken fixtures or blinds. Replace missing towel holders, light fixtures and switch covers.

Can bond be more than 4 weeks rent?

A rental bond cannot be more than four weeks rent. Higher bonds cannot be charged for tenants with pets or children. A bond covers the tenancy of the whole property, not each individual tenant. If a landlord agrees, the bond may be paid in instalments.

What does 4 weeks rent in advance mean?

If the landlord had specified a start date for the weekly payments (ie: one week after the start date) then the rent would always be paid 4 weeks ahead of the period to which it relates.

Is rent always paid in advance?

When you rent privately, you will usually be expected to pay your rent in advance. This means that you will pay each month’s rent at the beginning of that month. … When you first move into a property you will usually have to pay your first month’s rent and a deposit upfront.

What does rent paid in advance mean?

Rent in advance is simply paying more than one rental period’s worth of rent before the tenancy starts. E.g. paying six months’ rent up before beginning a monthly tenant, or paying four weeks’ rent ahead of a weekly tenancy.