Room in a 3 Bedroom Apartment, 253/198 Coward Street, Mascot, NSW Australia 2020

A security deposit is a payment held to secure your performance under your rental services agreement. The rental services agreement imposes various obligations, to keep furniture in good repair, and to pay service fees (such as cleaning) on time, etc. If you are in default of your obligations under the rental services agreement, then they may deduct any monies payable by you from the security deposit held. Please note that your monetary obligations to them are not limited by the amount of security deposit paid. They may still seek payment of arrears against you after the security deposit is depleted or ask that you top-up your security deposit to the required amount. On or before the date of your rental services agreement, you should pay the accommodation team the Security Deposit by electronic transfer into the Payment Account. The security deposit will be recorded against your account, no interest is earned on it. The full amount (subject to deductions under the rental services agreement) will be refunded to you after the term of the rental services agreement under the terms therein. You will receive a deposit refund form listing the balance of your security deposit and details about the deductions made (if any). Normally it will be refunded back to you within 14 workdays after the end of the term. The amount of the security deposit payable is stated in your rental services agreement.