From 30 January 2017, private landlords now have to give tenants the opportunity to lodge their rental bonds using Fair Trading’s Rental Bonds Online (“RBO”) system. This means no more posting of lodgement forms and bond cheques.
Landlords must register on the RBO by 30 January 2017. Failure by landlords to invite new tenants to lodge their bonds using RBO prior to accepting a bond, may incur a penalty of $2,200.00. It will also be a breach of the Residential Tenancial Act 2010.