From 1 May 2019, all bonds must be managed online through Mybond, including transfers
Change of ownership or management of property
We must be notified when the manager of a rental property changes. This might occur when:
- A property agent takes over management of a property for an owner
- A property is sold, or
- Management of a property transfers to a new agent.
Before a transfer can be done, the owner/agent of must know the details of the new owner/agent. They must call the new owner/agent or us to gain the owner/agent ID number.
If management of a property transfers to a different owner or agent during the tenancy, then the:
- outgoing owner/agent must start the transfer process in MyBond
- outgoing owner/agent will need to have the incoming owner or agent’s ID number
- once submitted, the incoming owner/agent will be sent a notification from MyBond
- the incoming agent/owner will need to log-in to MyBond and accept the transfer
When the incoming owner/agent accepts the transfer, the outgoing owner/agent will no longer be able to view the bond details.
If the incoming owner/agent does not accept the transfer within the timeframe, the transfer will be rejected.
View our Quick Reference Guide – Bond management transfers. (link to QRG)
Transferring tenants in and out of properties
Where a property has multiple tenants, one tenant can transfer out of the lease and a new tenant take their place.
To do this:
- An agent/owner must start the transfer process in MyBond.
- The outgoing tenant will receive a notification from MyBond. They will need to log-in to MyBond to approve the transfer.
- The incoming tenant will receive a notification from MyBond to pay their bond contribution.
- When the transfer is approved and the bond contribution paid, the outgoing tenant will be paid their contribution.
When a bond cannot be transferred
If a tenant is removed from the lease but no new tenant is moving into the property, the bond cannot be transferred.
In this case, either:
- The outgoing tenant waits until the end of the lease, or
- The current lease will need to end early by agreement, and a new lease will need to be signed by the remaining tenants.