Transferring a bond

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 happen when:

  • a property agent takes over management of a property for an owner
  • a property is sold, or
  • property management transfers to a new agent. Before a transfer can be done, the owner/agent must know the details of the new owner/agent.  Contact the new owner/agent or CBOS to get the owner/agent ID number. If management of a property transfers to a different owner or agent during the tenancy the:
  1. outgoing owner/agent must start the transfer process in MyBond
  2. outgoing owner/agent needs to have the incoming owner or agent’s ID number
  3. incoming owner/agent will receive a notification from MyBond after the transfer is submitted
  4. incoming agent/owner will need to log in to MyBond and accept the transfer

After the incoming owner/agent accepts the transfer, the outgoing owner/agent is no longer able to view the bond details.

Quick Reference Guides are available:

Transferring tenants in and out of properties

Only an agent or property owner can start a transfer process in MyBond. If tenants want to leave or move into a property, they should see their owner or agent first. There are two ways an agent or owner can transfer tenants in MyBond:

1. Tenant variation

This is adding and removing tenants as well as adjusting their bond contribution amounts in MyBond. Money passes between the tenants themselves. NO money is transferred through MyBond. The tenants should agree in writing to the agent or owner changing their bond record.

When an agent or owner submits a Tenant variation in MyBond, all tenants affected by the variation will receive a notification from MyBond.  If a tenant disagrees with the details of the variation, they should contact their agent/owner.

If an agent has made a mistake with the variation, they can edit the variation or email the Rental Deposit Authority for help.

2. Tenant swap

This is changing one tenant for another for the same amount of money. The new tenant pays their money into MyBond and the old tenant receives their money from MyBond. Tenants must NOT pay each other directly if using this swap process.

When an agent or owner submits a Tenant swap in MyBond, the outgoing tenant will receive a notification from MyBond for them to approve the swap and enter their bank details. After they have done this, the new tenant will receive a notification from MyBond to pay their bond. When the new tenant pays their bond, MyBond will pay the money to the outgoing tenant. The outgoing tenant is then removed from the bond and the new tenant is added.

Quick Reference Guides are available as well as Tenant Variation Form to evidence tenant consent to vary bond details:

Tenant Variation Form

Property owners – how to vary tenants and bond contributions in MyBond

Property owners – how to swap one tenant for another in a rental property

Property agents – how to vary tenants and bond contributions in MyBond

Property agents – how to swap one tenant for another in a rental property

When a bond cannot be transferred

A tenant transfer cannot be done where only a single tenant was registered at the time of lodgement. In this instance, you must follow the bond lodgement / bond claim processes.

There must be at least one continuing tenant. If all tenants are being removed from the bond, the bond must be claimed and a new one lodged for the new tenants.

If a deposit contributor pays a tenant’s bond:

  • the tenant cannot be added to or removed from the bond
  • the tenant’s contribution can be changed
  • the deposit contributor’s contribution cannot be changed.