Repeated failure to lodge bonds results in $23,500 fine for property managers
The tribunal also made an order restraining Prime Rentals from committing any further breach of its duty to send bonds to the Bond Centre within the required time. While there is no legal requirement to charge a bond for a tenancy, it is considered best practice to do so. If a bond is charged, the Residential Tenancies Act requires the landlord, or property manager, to lodge it with the Tenancy Services bond centre within 23 working days of receiving it from the tenant. In the ruling, the adjudicator said evidence provided by MBIE showed that in each of the 23 cases the tenant paid the bon...