The bond loans were never paid back until you moved out. Then the RE would send it directly back to the Dept of Housing. Maybe it's different between states? In which case I would still get the bond so you can have a 'float' of savings.
Yep, that's how it worked for us. We got the Bond Cheque from DoH, gave it to the RE, they'll give it back at the end of our tenancy so long as the do not need to take any money out for damages etc...in which case we'd be paying back the DoH. I agree with Lu, get the cheque and keep that $$ as a little cushion for whatever might come up