Tenants' millions unclaimed
More than $5 million in unclaimed bond money is waiting for tenants to collect.
Sunday, February 20th 2005, 7:12AM
by The Landlord
The money belongs to tenants who lodged bonds with the Tenancy Services section of the Department of Building and Housing, then failed to claim it back.At present the deposits stay in the fund indefinitely or until they are claimed, but under the Residential Tenancies Amendment Bill, awaiting its second reading, the money will be handed over to the Crown if it is not claimed after six years.
Tenancy Services spokeswoman Kirsten Collins said some of the money had been sitting there for 18 years. Bonds were usually not claimed because people forgot or were not sure how to claim.
Ms Collins said the service was trying to locate the people whose bonds were unclaimed but it was difficult, especially when the money dated back years.
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