Bond (rental security deposit)
A refundable deposit, usually 4 weeks' rent, lodged with a state authority at the start of a tenancy.
What newcomers get wrong
The bond should NEVER be paid directly to a landlord's personal bank account. It must be lodged with the state's residential tenancies authority (e.g. NSW Fair Trading, RTBA in Victoria). If asked to pay cash to a landlord, walk away.