When creating a new tenant, it is important to enter the Bond Information in correctly as Palace uses this information to know what is outstanding, what has been paid and what is being transferred.
- Bond Transferred: If the tenant is transferring bond from another property, enter that amount here.
- Bond Required: This is the amount of bond that you require less the amount transferred i.e $900 is total bond, but $500 is being transferred so you would enter $400 in this field.
- Bond Total: The total of the Bond transferred and the Bond required fields
- Bond Outstanding: This is the Bond Paid minus the Bond Required. E.g $1500 is required but only $500.00 (Transferred) has been paid so $600.00 is outstanding.
- Bond Number: Each bond when lodged with the Bond Centre is given an individual bond number, enter that here.