RTA’s new Change of Bond Contributors Web Service coming soon

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This August, the Residential Tenancies Authority (RTA) will launch a new Change of Bond Contributors Web Service and introduce an educational end-of-tenancy email for tenants.  

Continue reading for the key changes and insights regarding these new services, so you can be informed and prepared ahead of the changes going live. Remember to subscribe to RTA News for all the latest Web Services updates. 

 

About our new services 

1. Change of Bond Contributors Web Service 

The Change of Bond Contributors Web Service will:  

  • save our customers time by processing agreed bond contributor changes automatically, within hours 
  • enable customers to change bond contributors quickly and easily online, when tenants leave or move into a property 
  • enable bond contributors to change how the bond is allocated, by altering how the bond is shared between contributors online  

2. End-of-tenancy email

The end-of-tenancy email will be sent to all tenants listed on the bond when our records indicate they are six weeks away from their tenancy end date. This email will: 

  • remind tenants of their bond number, which is essential for transacting with the RTA 
  • provide links to valuable resources to help tenants navigate the process when a tenancy is coming to an end  
  • encourage tenants to update their details with the RTA  
  • ask tenants to update their end of tenancy date if they’ve extended their tenancy, which will allow the RTA to better predict when there will be increased demand for our services, and to plan our resources accordingly.  

The RTA will also be updating the Client details form and making some minor changes to the Change of bond contributors paper form, to ensure consistency with RTA Web Services. 

 

How will the Change of Bond Contributors Web Service work?  

As is currently the case, any changes to the tenants listed on the tenancy agreement should be agreed by all parties before a Change of bond contributors request is submitted to the RTA. It will also remain the case that either the property manager/owner or a tenant listed on the rental bond will be able to start the change of bond contributors process.  

With the launch of the new Web Service in mid-August, only contributors who are transferring some, or all, of their bond to another party will need to agree to the Change of bond contributors request. By agreeing to this request, they are removing themselves from the bond or reducing their bond contribution amount held at the RTA. 

Under the new service:   

  1. either the property manager/owner or a tenant listed as a bond contributor with the RTA can submit a Change of bond contributors request (as is currently the case) 
  2. once a Change of bond contributors request has been submitted using the Web Service, an email will be sent to bond contributors who are transferring some, or all, of their bond to another party  
  3. the notified bond contributors will have 14 days to respond to the request. If any money is changing hands, the bond contributors should organise this directly between themselves before they agree to a Change of bond contributors request  
  4. if any of the notified contributors disagree with the change, or fail to respond within the 14 days, the Change of bond contributors request will be cancelled 
  5. if all notified bond contributors agree to the request, the property manager/owner and all contributors remaining on the bond will be sent a confirmation email.  

The Change of bond contributors paper form will remain available.   

The table below demonstrates how the Change of Bond Contributors Web Service will work:  

Who can lodge a CBC request?
  • Property managers/owners 

OR

  • Tenants who are listed as bond contributors for the property by the RTA
     
Who needs to agree to a CBC request? 
  • Contributors who are being removed from the bond 

AND 

  • Contributors who are transferring part of their bond to another party
     
Who doesn't need to agree to a CBC request?
  • Existing contributors whose bond amount is increasing or remaining the same 
  •  
  • New bond contributors
  • Property managers/owners (if the CBC request is lodged by a tenant)

AND 

  • Tenants who live in the property, but are not listed as bond contributors with the RTA
     
Who receives a confirmation email if the CBC request is approved by the RTA?
  • Property managers/owners

AND 
 

  • All contributors listed on the new bond (i.e. both new bond contributors, and existing contributors remaining on the bond)
Who receives an email notification if the CBC request is cancelled?
  • The person who submitted the Change of bond contributors request

AND 

  • All bond contributors who received the email asking them to agree or disagree with the Change of bond contributors request

 

 

Why is the RTA making these changes? 

The launch of the Web Service will make it quicker and easier to change bond contributors and contribution amounts online. These changes will also help reduce paperwork for managing parties. 

It is important to note, successfully submitting a Change of bond contributors request with the RTA does not change the tenants listed on the tenancy agreement. Any changes to the tenancy agreement require approval by the property manager or owner and must be agreed by all parties.

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