I just leased 2 houses in WA mining town for 5 years term to the same government tenant (separate leases). The total bond is quite significant.
I wonder if I can lodge these 2 bonds in the same 5-years term deposit account (as opposite of a usual government bond administrator)? I understand that account to be held in both landlord and tenant’s name followed by the title “Tenancy Bond Account”). If so, how is the interest earned treated?
If I can keep the interest or a half of it – I’d rather do this. St George/NAB/BankSA gives 7.2% interest and have government guarantees bank deposit. Why loose it?!contact the office of fair trading – as the leases exceed 3 years different conditions may apply .
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