written by
Mark Gannon

Tenants, landlords urged to reclaim $1.5m in bond money

Finance 1 min read

Unclaimed bonds worth $1.5m are waiting to be scooped up by tenants and landlords - just in time for Christmas.

Consumer Protection said the money is tied to close to 4,900 tenancies which ended between January 2007 and December 2010.

The competition watchdog said the funds had not previously been paid out for a number of reasons, ranging from disposal forms missing signatures and payment cheques not presented to the bank.

The bonds, which had been held by the Bond Administrator, have been provided to Treasury for listing on its website.

Consumer Protection commissioner David Hillyard said those who think they are owed bond money can check online and have the claim “processed in time for Christmas or at least help with paying the post-Christmas bills”.

“The average payment owed is about $300 and the highest individual payment owed is $5,300 so I’m sure this money is better put in the pockets of the rightful owner,” he said.

“With $1.5 million of unclaimed bonds being held, we are keen that such a large amount of money is returned to the people who have a right to it as soon as possible.”

Mr Hillyard said the check was both free and easy to do, recommending people decline offers from third parties to carry out the search.

The search involves visiting the Treasury website and typing in your name.

A bond refund number will accompany any successful results that appear, which you will need to include when you submit a claim.

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