Online Rental Bond Transactions to Be Mandatory from December 2019
Date: 4 Jun 19
From 9 December 2019, the Residential Tenancies Bond Authority (RTBA) will require all licensed estate agents to complete most transactions electronically using RTBA Online. This includes lodging bonds, claiming repayments, and transferring tenants on a bond.
Licensed Estate Agents can register to use RTBA Online from June 2019 and start to adjust their processes and systems with the coming changes.
RTBA Online offers property managers many benefits, including:
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Faster return of bond repayments
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No need to collect tenant signatures
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No transactions rejected due to mismatched signatures
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No postal delays
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Reduced administration costs
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Simpler tenant transfer
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Clearer bank details on claims compared to handwritten submissions
Licensed Estate Agents can register an organisation account on RTBA online at https://rentalbonds.vic.gov.au/PropertyManager/Account/Register.
Support materials and how to guides & videos can be found on Consumer Affairs Victoria’s website at https://www.consumer.vic.gov.au/RTBAOnlineHowTo.
Exceptions will be allowed for tenants without email access or who are otherwise unable to access the online system, as well as transactions that require supporting paper-based information such as VCAT orders or proof of death. Also, transfers from one agent/landlord to another must still be completed through the paper-based process.