$105,000 goes begging as tenants forget to collect bonds

GLADSTONE region residential tenants and rental property owners have forgotten about more than $105,000 in bonds.

They're being urged to find out if they're one of 499 people in the area who've forgotten to get their bond refund.

The Residential Tenancies Authority is holding $9.35 million in forgotten bonds that have accumulated over the past 25 years in Queensland.

Based on state figures, each person is missing out on an average of $1000 in unclaimed bonds.

Under current laws any bond that had not been claimed for more than seven years may be reinvested into affordable housing.

As of April 2014, $3.68 million in unclaimed money had reached the seven-year mark.

But tenants and landlords keep their right to claim their forgotten bond at any time - whether the seven-year period has lapsed or not.

Unlike super where you can find out where it is online, people are stabbing in the dark to find out if it's theirs.

Ray White Gladstone director John Fieldus said Gladstone made up 1% of the state figure, which makes Gladstone tenants pretty diligent.

"There's always going to be that sort of residual amount that lays around that people don't claim," he said.

"When we have a tenant vacate we provide them with a refund form and the onus is on them to lodge the form.

"It's a lot less common these days because the majority of tenants provide bank accounts and we lodge online for them; it's a much more simplified system."

But Mr Fieldus said Gladstone had a lot of company tenants who might make up the forgotten bonds.

"We take some inquiry from companies saying auditors have been through the books and need to pursue the bond," he said.

"Unlike super where you can find out where it is online, people are stabbing in the dark to find out if it's theirs."

He said Ray White had a good bunch of tenants and the majority of bond went back their way.

"All we can do is implore people to go back through their records," he said.

Anyone who thinks they may have a forgotten bond can visit the RTA website at www.rta.qld.gov.au or call 1300366311 for more details on how to make a claim.



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