HiRUM Software Solutions

Changes to bond refunds by the Residential Tenancies Authority (RTA)

Posted by Carly Crossley -03/08/2016
house keyring and key | changes to RTA bond refund process | HiRUM

Queensland’s Residential Tenancies Authority is modernising its bond lodgement and refund system along with a number of other enhancements. Read more about the changes to the RTA bond refund process below:

The RTA has made a series of service delivery changes from 1 July 2016 designed to streamline tenancy management processes.

From 1 July 2016:

  • All RTA bond refund payments will be deposited into Australian bank accounts. Cheques and international money transfers will no longer be issued.
  • A new change of property address form will replace the Transfer of bond (Form 3), used when a tenant moves to a new property managed by the same property manager with the same bond amount.
  • Hand-delivered payments will no longer be accepted at the RTA’s Turbot Street address
  • The RTA have also introduced a new client portal that will allow people to manage and track their bonds online.

RTA CEO Darren Barlow said he expected tenants and property managers would welcome the change since 89 percent of RTA bond refund payments were already made that way.

“Bank account bonds refunds are fast, easy and secure,” Darren said.

“Make sure you provide your up-to-date bank details on the Refund of rental bond (Form 4) and if everyone agrees to the bond distribution we will process the request within 48 hours.

“We will hold any RTA bond refund due until you provide your bank account details on the bond refund form, on the bank account details form, or over the phone.

“‘The cheque’s in the mail’ is a thing of the past and the RTA’s new bond refund policy reflects that,” Darren said.

International students should keep their Australian bank account open until they receive their bond refund.

The change is one of a series of RTA service delivery changes.

The RTA client portal also allows people to manage and track their bonds online and as a property manager you can also use the HiRUM software to process a bond to your tenants.

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Carly is the Social Media Coordinator at HiRUM Software Solutions.
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