$4 million in bond money waiting to be claimed by tenants and landlords
- Appeal to WA tenants and landlords to claim outstanding bond money
- More than $4 million being held, waiting to be returned to rightful owners
- Free, quick and easy online process to search for and claim money owed
Tenants and landlords in WA are being urged by Consumer Protection to check for unclaimed bond money which currently totals $4.15 million.
The funds are being held by the Bond Administrator at Consumer Protection as well as the Department of Treasury. A simple search via the Service WA app or the Treasury website will reveal who can claim the money.
The average amount per tenancy is $313 and the largest amount owing is $14,000. The unclaimed bond money relates to tenancies that came to an end since 1990.
The bonds were not paid out for a variety of reasons:
- No forwarding contact or payment details were provided;
- No agreement was reached on how to release the bond;
- An application requesting a release of the bond was incomplete; or
- The release of the bond was not requested at the end of the tenancy.
By law, WA organisations and government agencies that are holding funds on behalf of others must transfer them to Treasury if still unclaimed after six years.
Commissioner for Consumer Protection Trish Blake is keen for outstanding tenancy bonds to be given back to the rightful owners.
“Many tenants and landlords are doing it tough at the moment with rising rents and interest rates, so this money, once successfully claimed, could help ease some of their financial burden,” Ms Blake said.
“This large amount of money needs to be returned to those who have a right to it as soon as possible. All it takes is a free, quick and simple search to find out if you are owed any of this money and you could be pleasantly surprised by the results.
“The claims process is equally as quick and easy, so don’t hesitate to find out if you are owed some of this money.”
Here’s how to search and claim:
Search for your name either via the Service WA app (download from the Apple App Store or Google Play Store) or the Treasury website: www.wa.gov.au/treasury/unclaimed-money.
If your name appears, there will be step-by-step instructions on how to claim the money depending on which Department is holding the funds, either Treasury or Consumer Protection (DMIRS). In most cases, once verified, the money will be paid directly into a nominated back account.
If you require assistance, please call Bonds Administration at Consumer Protection on 1300 853 829.
Media Contact: Alan Hynd, (08) 6552 9248 / 0429 078 791 / firstname.lastname@example.org