Signing your first lease in Victoria is a big step. Understanding what a lease, bond and condition report mean protects your money and your rights as a renter.
What a lease is
A residential rental agreement (lease) is a legal contract between you (the renter) and the rental provider (landlord). It sets the rent, the length of the agreement, and the rules for the property.
- Fixed-term agreements run for a set period (often 6 or 12 months).
- Periodic agreements roll on month to month once a fixed term ends.
- Read the whole agreement before you sign, and keep a signed copy. Never sign for a place you haven't seen — see our guide on finding a room in Melbourne to avoid scams.
Bond: your security deposit
The bond is a security deposit, usually equal to one month's rent. It is not kept by the landlord — by law it must be lodged with the Residential Tenancies Bond Authority (RTBA).
- You should receive confirmation from the RTBA that your bond has been lodged.
- At the end of the tenancy you get the bond back, minus any agreed deductions for damage beyond fair wear and tear.
- If there's a dispute, Consumer Affairs Victoria and VCAT (the tribunal) can help resolve it — the bond can't just be kept without a valid claim.
The condition report
Before you move in, you'll get a condition report describing the state of the property. This is your most important protection.
- Check it carefully, take dated photos of any existing marks or damage, and note them on the report.
- Return your copy within the timeframe stated.
- When you move out, this report is used to decide whether your bond is returned in full.
Rent, bills and rights
- Rent is usually paid fortnightly or monthly — keep records of every payment.
- Ask which bills are included and which you pay (electricity, gas, water, internet).
- Renters in Victoria have strong rights around repairs, privacy and rent increases. Learn them at Consumer Affairs Victoria.
Before you move out
- Give the correct notice in writing, as set out in your agreement.
- Clean the property and return it in the condition shown in the report (allowing for fair wear and tear).
- Request your bond back through the RTBA once you've handed back the keys.
Keep every document — the signed lease, bond receipt, condition report and your photos — in one folder. When it's time to get your bond back, that folder is what makes it straightforward.