News
34,000 bonds unclaimed
Tuesday 9th of September 2008
At the start of a tenancy landlords can ask for a bond up to the equivalent of four weeks' rent. That money is returned when the tenancy ends and there are no disputes or damages which need to be settled.
However, over the past 19 years 34,166 bonds with a value of $5.78 million remain unclaimed.
DBH, which administers the scheme, says there are a range of reasons why the bonds may not have been returned.
It says the unclaimed money sits in the bank earning interest.
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