Need help covering your rental bond in Tasmania? Jac's got your back with our Personal Loans.
*Subject to lending criteria, T's and C's'
*Subject to lending criteria, T's and C's'
Rental bonds can leave a huge dent in your savings when starting a new tenancy agreement, especially if you have to pay upfront or by yourself. Combined with the stresses of moving, rental bonds could be the straw that breaks the camel's back for a lot of tenants.
A Rental Bond Personal Loan with Jacaranda Finance can allow you to pay that deposit quickly without dipping into your hard-earned savings. Instead, you can repay a loan from $3,000 over manageable instalments starting from 25 months.
We know how important it is to receive your funds in a timely manner. As a hard-working Australian, you don't have time to waste on needless paperwork.
That's why Jacaranda Finance makes applying for a Personal Loan to cover rental bonds and moving expenses simple with our fast, 100% online application.
Check if you qualify without affecting your credit score today.
Full of expansive landscapes and scenic treasures, Tasmania is a gorgeous spot to visit. Sometimes, visitors will stay a little longer and decide to settle down there. The state's capital is full of gems, and it's no wonder over 250,000 people call Hobart home.
According to the Domain Rental Report for March 2024 , rent in Hobart can be quite high:
This means Hobart is actually one of the more affordable capital cities, as its average weekly rent is well below the average across each of the capital cities ($593).
However, that doesn’t mean it’s cheap, and moving to a new rental property can still be really expensive.
In Tasmania, a bond cannot legally be more than 4 weeks' rent and cannot be increased during the tenancy. If an owner charges more than 4 weeks' rent for the bond, they could face a fine.
Using the average weekly rent figure of $505 for both units and houses, the typical rental bond could set you back $2,020.
Add in an extra two weeks’ rent you could also need to pay upfront as a deposit, and that figure jumps to $3,030!
This can be quite a dent in your savings when you consider all the other costs and stresses of moving.
If you need help with these costs, consider turning to a Jacaranda Finance Personal Loan. Our loans range from $3,000 all the way up to $25,000.
See below for more detailed information on rental bonds and Rental Bond Loans in each state/territory.
Are you a renter in Tasmania and unsure about how the bond process works? We've compiled some key pieces of information that may answer your questions.
Refer to the resources tab at the end for official sources of information when it comes to paying a rental bond in Tasmania.
Tenants in Tasmania have three options when paying their rental bond:
In Tasmania, the Rental Deposit Authority (RDA) holds all rental bonds. Either the owner/agent or tenant can start the claim process when claiming a rental bond back.
An owner or agent must:
A tenant can claim the bond if:
To get your bond back, ensure the property is kept in good condition, especially near the end of your tenancy. Using bond cleaners can help. Additionally, documenting the condition of the property with an Entry Condition Report and photos can provide evidence in case of disputes. You can claim your bond back through the MyBond portal once the tenancy ends​
Keeping the premises in good condition is always a step in the right direction, especially near the end of your tenancy. Bond cleaners are also an available service if you deem your rental in need of a good clean.
Landlords or agents can claim the bond for various reasons, including:
Owners must provide the tenant with a list of reasons for the claim. According to section 53 of the Residential Tenancies Act 1997, the property must be returned in the same condition as it was at the beginning of the tenancy, apart from 'reasonable wear and tear'.
Claims are assessed individually by the Commissioner​. To find out more about what can and can't be claimed, visit the CBOS website.
If a bond claim is disputed, tenants have 14 days to respond in MyBond or to the RDA. If unresolved, the dispute is referred to the Residential Tenancy Commissioner, who will assess the evidence and issue a Determination on the bond payment. Both parties have seven days to appeal the decision before the bond is paid out​.
For more on disputing a bond claim, visit the Tenants' Union of Tasmania.
The main two bodies for renting in Tasmania is CBOS and Service Tasmania. These organisations are governed by the Residential Tenancies Act 1997.
The union for renters in Tasmania is Tenants' Union of Tasmania. This organisation not only provides helpful resources, they also provide free legal advice, representation and education, as well as advocating for the improvement of tenants' rights.
Our loans are designed to be fast, fair, and, above all, affordable, with no hidden fees. See the table below for a quick guide to our charges, or visit our fees page to learn more. For detailed information about who our products are designed for, please review our Target Market Determinations.
Need more information? Here are the answers to some of our most frequently asked questions about our loans.
A rental bond loan is simply a loan you can use to pay for your rental deposit and any other associated moving costs.
Instead of dipping into your hard-earned savings, a Jacaranda Finance Personal Loan lets you repay the money in manageable instalments starting from 25 months.
A bond is a sum of money paid by a tenant to a landlord or agent before moving into a property. It acts as security against any potential damage or unpaid rent during the lease period. The bond is typically lodged with a government authority, governed by state laws, ensuring fair handling and dispute resolution.
When the lease agreement ends, the bond is refunded to the tenant if there are no outstanding issues. Different rules may apply per state, so we recommend reviewing local legislation for accurate tenancy guidelines.
Our loan application process has been designed to be as simple and quick as possible, as we know how important it is to receive your funds in a timely manner. How quickly you can apply for a personal loan and receive your funds will depend on your situation.
Applying for a loan with Jacaranda Finance takes most people 5-12 minutes1, but it could take longer depending on a number of factors such as but not limited to how fast you are at typing or if you have all the required information on hand.
After applying, most customers get an outcome on their loan application on the same day during normal business hours once we have received all of the supporting information we require. We do not guarantee same-day outcomes for all customers.2
Once an applicant has been approved and they have signed a contract, we automatically attempt to release the money to the applicant's bank account. Most customers have a New Payments Platform (NPP) bank account and receive the money in their bank account within 60 seconds. For other customers, the money will be available overnight on weekdays and overnight the following business day if approved on a weekend or public holiday.3
Before you formally apply with Jacaranda, you can check if you qualify for a loan in a way that does not impact your credit score. We do this by performing a 'soft' credit check that is only visible to you.
If you don't meet our initial criteria, your credit score won't be affected.
Once you've checked your eligibility and we've let you know that you do qualify for a loan, you have the option to move forward with a full application.
We will perform a credit assessment during this process, which involves checking your credit report. By submitting a full application, you authorise Jacaranda Finance to obtain a copy of your full credit file, referred to as a 'hard' credit check.
Other lenders will be able to see that you applied for a loan with Jacaranda.
This might impact your credit score.
Review our Privacy Policy for more information.
You can view your repayments from either the Better Credit app or online portal and contact our friendly customer service team to request any changes that you need.
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Read more: Personal Loan Repayments 101.Jacaranda's Express Personal Loan product is typically suited for larger expenses, such as:
$3,000 - $25,000
