VIC: Residential Tenancies Act Section 206K What is the maximum bond?

What is the maximum bond?

(1) Subject to this Act, a person must not demand or accept in relation to a site agreement a bond the total of which exceeds—

(a) the amount of rent payable under the site agreement for one month, unless an order is in force under section 206M; or

(b) the maximum amount of the bond determined under an order in force under section 206M.

Penalty: 60 penalty units.

(2) Subsection (1) does not apply to a site agreement if the amount of rent payable under the site agreement for one week exceeds the prescribed amount.