UNCLAIMED RENTAL BONDS COULD PROVIDE BOON FOR TENANTS

Former tenants who paid a rental bond during the past 10 years could be in line for an early Christmas present or a New Year bonus.

Premier Peter Beattie has reminded people that the Residential Tenancies Authority is holding more than $2,700,000 in unclaimed rental bonds that accumulated as a result of people either forgetting to cash their refund cheques or not providing an address where the refund could be sent to.

Mr Beattie said the Residential Tenancies Authority launched a media campaign in April in an attempt to return the bonds to their rightful owners.

“It had some success with more than 2,000 refunds worth more than $200,000 going back to tenants but there is still a large sum waiting to be claimed,” Mr Beattie said.

"These funds have accumulated over the past decade or so as a result of people either forgetting to cash bond refund cheques or moving premises without notifying the RTA of their new address.”

"The Residnetial Tenancies Authority has tried to refund the money, only to have cheques returned.

“The festive season is a great time for all former tenants to visit the RTA website at www.rta.qld.gov.au and use the search facility to see if any of the outstanding money could belong in their pocket.

“It could mean an extra present or two for loved ones, some extra cheer, or some bargain hunting at the New Year sales.”

Mr Beattie said rental bonds are paid by or for a tenant and is held by the Residential Tenancies Authority for the protection of the lessor in case the tenant breaches the tenancy agreement.

He said the Residential Tenancies Authority held the bond – usually equivalent to four week’s rent – in trust while the tenant lived in the property, and paid it back when the tenant moved out, provided there was no disagreement. In the meantime, interest from the money goes to housing projects like the Lady Bowen Trust for the homeless, tenants association and the Tenants Union.

“We have no desire whatsoever to hold onto this money and we will continue to look at ways to get people’s money back to people. But at the end of the day people need to take responsibility and claim their money.”

Mr Beattie said information on unclaimed rental bonds is a permanent feature on the Residential Tenancies Authority’s website (www.rta.qld.gov.au) in an attempt to see as much of the money returned to its rightful owners as possible.

“If your name appears on the website, all you need to do is call the Residential tenancies Authority on 1300 366 311,” he said.

“Staff will then verify your claim and funds can be either deposited directly into your bank account or a cheque can be sent out in the mail.

“You could have an unexpected bonus in a matter of days,” Mr Beattie said.

Media contact: Premier’s office 3224 4500

David Shankey 0407 582 041

23 December 2006