Bond frequently asked questions
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How do I get my bond money back?
A Bond refund form is used to recover the bond. It should not be signed until it is fully completed, including the amounts to be refunded to the landlord and the tenant.
Bank account numbers should be included on the bond refund form as refunds are only made by direct credit. All of the named parties to the bond should sign the form. All parties should sign next to any alterations made to amounts or to bank account numbers.
No interest is paid for bonds held by the Ministry of Business, Innovation and Employment. Under section 127 (7) of the Residential Tenancies Act 1986, the proceeds from the investment of funds held in the Residential Tenancies Trust Account belong to the Crown and are used as departmental revenue for the Ministry. If bond money is unclaimed within 6 years of the end of a tenancy it must be transferred to a Crown bank account.
Once completed, the Bond refund form should be either posted to the Ministry of Business, Innovation and Employment at PO Box 50445, Porirua, Wellington, faxed to (04) 237 7884, or scanned and emailed to firstname.lastname@example.org.
If the signature of the landlord or tenant cannot be obtained, the Bond refund form should still be completed and sent to the Ministry. The Ministry will write to the party who has not signed the form and ask for their permission to refund the bond as requested. The landlord or tenant will be given a date to reply by:
- If they do not reply, the Ministry may still pay out the bond as requested.
- If they do reply and agree to the payments requested on the Bond refund form, it will be paid out.
- If they reply and disagree, the bond will not be paid out and both the landlord and tenant will be notified of the dispute. The bond will not then be refunded until either a new Bond refund form is received and is signed by all parties to the bond, or until the Ministry receives a mediator’s order or an order of the Tenancy Tribunal advising how the bond is to be refunded.
Bond refunds are normally processed within 3 working days of the Ministry receiving a refund request. For information about the processing of bonds, bond numbers, or what is happening with a bond, phone the Bond Information line on 0800 737 666.
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Can I transfer a bond?
A Bond transfer form is used to transfer the bond for the tenant from their old tenancy to their new tenancy at a different property. Do not use a Bond transfer form for changing a landlord or tenant name on the tenancy agreement.
The Bond transfer form should be completed by the landlord and tenants for the old tenancy and by the landlord and tenants for the new tenancy. The form has room for refunding part of the old bond and for additional payment for the new bond.
Bank account numbers should be included on the Bond transfer form if part of the old bond is to be refunded, as refunds are only made by direct credit. All parties should sign next to any alterations made to amounts or to bank account numbers.
Once completed, the Bond transfer form should be either posted to the Ministry of Business, Innovation and Employment at PO Box 50445, Porirua, or faxed to (04) 237 7884.
Bond transfers are normally processed within 14 days of the Ministry receiving a transfer request. For information about the processing of bonds, bond numbers or what is happening with a bond, phone the Bond Information line on 0800 737 666.
Read more about bonds in the sections of our site for landlords and tenants.
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