Navigating the complex residential tenancy act can be difficult with the wrong advice. With constant changes to regulations occurring we want to help you learn about them. The most recent change is with pet bonds.
The regulations made pursuant to the residential tenancies Act will be amended on June 1st 2011 so that the maximum pet bond is $260.
Owners with an existing tenancy cannot automatically increase the pet bond from $100 to $260.
Owners entering into a new tenancy agreement commencing on or after the 1st June 2011 can request the pet bond component of the security to be $260.
The pet bond forms part of the total security bond that the tenant can be required to pay under section 29.
For existing tenancies the pet bond cannot be increased unless there is an increase in rent. Further, at least 60 days notice of the increased rent must be given and there must be a 12 month period between consecutive bond increases.
For further details please contact your property manager.