When you first start your own Rent Roll, you’ll be taking money from tenants to pay their bond. It’s really important that you know where to put this money so you don’t get into trouble at your annual trust account audit.

In NSW, the bond is to be lodged with Fair Trading. Previously, this was completed using a paper form and a cheque or money order, but now agents can register for the Rental Bonds Online (RBO) service and lodge their rental bonds electronically. This opens up additional methods for the tenant to pay their bond, including Mastercard, Visa and Bpay.

The old paper based form can still be used for tenants who are unable to pay their bond using these electronic methods, and you cannot force a tenant to pay their bond electronically.

Remember, agents have 10 working days from the end of each month to lodge all bonds received in that month.

You can read about the new Rental Bonds Online platform by clicking on this link: http://bit.ly/1X6FA8i

For more information on setting up a Rental Bonds Online account for your new Rent Roll, click here to claim your free 30 minute strategy session with the Rent Roll Starter today!

02 7903 9993

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed