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When the management of a rental property changes, this is called a rental provider transfer. For example, this might happen if a property owner passes management of their rental property to an estate agency, if an owner decides to manage their own property, or if an owner has sold their rental property while it is occupied by renters.
In this circumstance, the rental provider on the bond must be updated. This is done by completing a rental provider transfer using the Residential Tenancies Bond Authority (RTBA) website. Rental providers can transfer a property at a time or their entire rent roll in one transaction.
Rental providers are required to start a rental provider transfer transaction with the RTBA within 5 days of the transfer occurring.
This is important because when a rental agreement ends, only the people listed on the bond will complete the bond claim.
Who is the transferor and the transferee
When completing the transaction, the rental providers are referred to as the ‘Transferor’ and ‘Transferee’.
- Transferor: the rental provider from whom the bonds are taken
- Transferee: the rental provider receiving the bond(s)
These role titles remain the same regardless of which party starts the transaction.
How to transfer the rental provider on a bond
There are two types of transfer:
- bonds out, started by the Transferor
- bonds in, started by the Transferee
Transfers are started using the RTBA website. A rental provider must be registered with the RTBA to start a transfer.
Bonds out (started by the Transferor)
A ‘bonds out’ transfer means the Transferor starts the transaction and the Transferee consents to the transfer. This option should be used in any case where both parties are aware of and agree to the transfer.
A Transferor can send as many bonds as needed to the Transferee in a single transaction.
When the Transferor submits the transfer, the Transferee receives an email notification with a link to review and accept the transfer. The Transferee can view the rented property address(es), renters’ names, bond numbers, and bond amounts to confirm they are receiving the correct bonds.
If you cannot find your email notification, check your junk or spam folders, make sure your inbox is not full, and make sure the Transferor used the correct email address.
Transferees must be registered with the RTBA and accept a transfer within 5 days. If this does not happen, the transfer will time out.
Bonds in (started by the Transferee)
A ‘bonds in’ transfer means the Transferee has started the transfer and has provided documents proving their authority to manage the rental property.
Bonds in transfers do not require the consent of the Transferor. This option is available if the Transferor cannot or will not complete the transfer, even though the Transferee has the authority to manage the rental property.
This option should only be used when a ‘bonds out’ transfer is not possible. For example, the Transferor rental provider might be deceased.
When the Transferee submits the transaction, they must attach supporting documentation which the RTBA receives and reviews. If the supporting documentation is satisfactory, the RTBA completes the transfer. If not, the RTBA rejects the transaction.
The transaction will remain pending until the RTBA completes their review.
Documentation for a ‘bonds in’ transfer
Transferee rental providers can attach any documentation which proves their authority to manage the rental property. This includes but is not limited to:
- the latest rates notice
- a managing authority notice
- a certificate of insurance for the property
The documents must be addressed to the Transferee rental provider and relate to the rented property address.
You can also attach a copy of a VCAT or other court order regarding the transfer of the bond.
Managing a rental provider transfer
Bonds out
The Transferor can view, update, and cancel the transfer using their registered RTBA account as long as they are listed on the transaction as the rental provider.&
When the Transferee accesses the transaction review page, the system will update the transaction to list the transferee as the rental provider on the transaction. The Transferor can no longer access the transaction from this point.
The bond(s) will remain on the Transferor’s rent roll until the Transferee accepts the transaction. If the transfer is not completed, the transaction is cancelled and the bonds remain on the Transferor’s rent roll.
Bonds in
You can check the status of your transfer using your registered RTBA account. While the RTBA’s review is in progress, the status of the transaction will be ‘Pending with RTBA’.
You can cancel the transfer at any point while the RTBA’s review is in progress.
Receipts
The RTBA will send a receipt to both the Transferor and Transferee when the transfer is complete.
If you have not received a receipt, you can check whether the transfer was successful by checking whether you have received the correct bond(s) (as a Transferee) or can longer see the correct bond(s) in your rent roll (as a Transferor).
Contact the RTBA
You can contact the RTBA on 1300 137 164 or through the RTBA enquiries form.