Are you owed unclaimed bond money

Are you owed unclaimed bond money?

Any time a bond is taken for a residential property in Queensland the law requires those funds to be lodged with the Residential Tenancies Authority. As at December 31st the RTA was holding a whopping $550million from 454,000 tenancies. So it’s probably no surprise there’s more than 22,000 unclaimed amounts for bonds that the RTA’s tried to refund.

Bond refunds to individuals and companies are put into this group when the cheque remains uncashed after 15 months, and you can check if you’re on the list by visiting the website. 

Out of interest the RTA invests a big chunk of those rental bonds through the Queensland Investment Corporation (QIC) in line with its own investment strategy. The income from those investments funds much of the activities of the RTA.