RTBA Online
Date: 12 Nov 19
Contributed by RTBA
The Residential Tenancies Bond Authority (RTBA) is modernising the bond process. From 9 December 2019, it will be mandatory for all estate agents to lodge, transfer tenants and claim bonds electronically using RTBA Online, instead of using paper forms.
Natalie Yong, a property management team leader from Jellis Craig Hawthorn, spoke to us about her office’s switch from paper to electronic. “Initially we were a bit hesitant,” she said, “but once we had our processes aligned it now works really well.”
Agencies should incorporate electronic bond transactions into their everyday business processes as soon as they can, to be ready for December.
“In the past when we were lodging or finalising bonds with all the paper forms, we faced a lot of challenges in the amount of rejections we were getting.
“That was frustrating not only to us, but to the tenant too.”
Natalie went on to say that electronic transactions have a much quicker turnaround than the paper process. “Now we get hardly any rejections, and if we do, we know the reason why much quicker. You can get everything finalised a lot faster” she said.
Getting the bond sorted is an important part of renting for tenants.
Adam Black, a renter in Surrey Hills, used the online process when he moved last month. “The whole thing was all pretty easy, pretty straightforward,” he said. “I’d rather do something online if I can, rather than going to all the effort of printing stuff to sign it and dropping it in somewhere or having to post it.”
Paper forms will still be available on RTBA Online for tenants who are unable to use the internet. Agents can submit paper forms only if:
- a tenant does not have or cannot get an email address
- a tenant is unable to complete the transaction electronically
- you need to attach paper evidence, such as a VCAT order
Agent/landlord transfers are not available online.
Department of Housing bond vouchers can now be lodged online.
The number of electronic submissions continues to increase as December approaches. If you have not started using electronic bonds yet, start now.
The RTBA Online homepage has a link to how-to guides and videos about how to lodge, claim and transfer bonds, the tenant experience and how to get started.
Log in to rentalbonds.vic.gov.au or for more information call the RTBA on 1300 137 164.