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Unclaimed bonds: remember to update your details

Tenants who believe they’re owed a bond refund from a previous rental are urged to contact the Residential Tenancies Authority (RTA) and update their details.

Every year, more than 264,000 new bonds are lodged with the RTA and more than 240,000 bonds are refunded.

However, a number of refunds cannot be finalised by the RTA due to incomplete or incorrect information, adding up to nearly $15 million in unclaimed bonds.

The most common reason is tenants not providing a new forwarding address, leaving thousands of bond refund cheques that are either unclaimed or unpresented.

In other cases, incorrect, out of date or incomplete bank account details prevent the RTA from processing refunds by direct transfer.

RTA Director of Policy and Stakeholder Engagement Meghan Hibbert said it’s crucial for tenants to make sure all current details are registered with the RTA.

“We want to be able to give tenants their bond money back. If you think you may have bond money that is owed to you, contact the RTA immediately,” Meghan said.

“The RTA will then check your details to see if there is any unclaimed bond money in your name,” she said.

Wherever possible, tenants are encouraged to opt for email notifications, to ensure important correspondence, including bond refund information is received promptly.

To update details: call the RTA on 1300 366 311 or download the Client details form.