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 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:

  1. outgoing owner/agent must start the transfer process in MyBond
  2. outgoing owner/agent will need to have the incoming owner or agent’s ID number
  3. once submitted, the incoming owner/agent will be sent a notification from MyBond
  4. 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:

  1. An agent/owner must start the transfer process in MyBond.
  2. The outgoing tenant will receive a notification from MyBond. They will need to log-in to MyBond to approve the transfer.
  3. The incoming tenant will receive a notification from MyBond to pay their bond contribution.
  4. 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.