Landlord e-newsletter - June 2009
Lodging the bond
When landlords or property managers take a bond, they must lodge it with the Department of Building and Housing within 23 working days. This is a legal requirement under the Residential Tenancies Act 1986.
Some landlords have recently discovered their property managers had not lodged bonds. This meant the landlords were not protected against the risk of a tenant damaging the property or leaving rent unpaid.
The Department administers more than 400,000 bonds per annum, so it’s important to provide the right information when sending bond money to us.
- Make the cheque payable to the Department of Building and Housing
We will not be able to lodge the bond if the cheque has not been made out correctly.
- Enclose the Bond Lodgement form with your cheque
Please complete every section of the form clearly to prevent delays when you apply for a refund. Both parties should sign the form. You can get copies of the form through our website.
- Provide an Address for Service for both landlord and tenants
An Address for Service is an address in New Zealand where notices and other documents relating to the tenancy will be accepted by you or on your behalf, even after the tenancy has ended. The Address for Service cannot be a post office box. It is also a good idea to include an email address – the Department will be using this more in the future to communicate with landlords.
- Check the Bond Lodgement form is signed by both landlord and tenants
When an application is made for a bond refund, the signatures on the Bond Refund form are checked against those on the Bond Lodgement form. The Department of Building and Housing needs to hold a copy of the signature of anyone likely to sign the Bond Refund form.