Rental Deposit Authority

Submitted by Michelle on Mon, 02/02/2009 - 17:20

Changes are anticipated for 2009 in the way private owners and real estate agents handle rental bond money.

A new Rental Deposit Authority (RDA) will be responsible for holding all Tasmanian residential rental bonds in trust for private owners and tenants until the bond is repaid. The main areas of activity of the RDA will include the following:

  • Managing rental bond money including lodgement, refunds and maintenance of tenancy details
  • Educating tenants, private owners and real estate agents about their rights and obligations
  • Referring disputes on rental bonds to the Residential Tenancy Commissioner
  • Providing information on all rental bond related matters
  • Monitoring legislation
  • Providing policy advice to the Minister and Government

Until the RDA is established, you can continue to receive rental bonds from tenants however it is important to understand what will be required in the event of a tenancy dispute. The most important requirement will be the property condition report. This report will be relied upon as evidence in the event of a dispute or claim, it is also important that you maintain accurate records of rent payments.

About 10 per cent of Tasmanian bonds are disputed, meaning about 150 tenants a year go to Consumer Affairs to fight for their money back.
If it is not possible to reach an agreement on the return of the rental bond, then fair and equitable processes will be in place to quickly resolve the issue.