Lodging bonds late has resulted in a Busselton real estate agency being convicted and receiving a total of $3,500 in a fine and Court costs.

Geographe Real Estate Pty Ltd, trading as LJ Hooker Geographe Bay, was convicted, fined $2,000 and ordered to pay costs of $1,500 by the Busselton Magistrates Court on 6 February 2019 after pleading guilty to two charges of failing to lodge bonds with the Bond Administrator ‘as soon as practicable’ as required by the Residential Tenancies Act.

In May 2017, the agency collected a $1,940 security bond from a tenant for a rental property in Geographe Bay but lodged it nine days later than the law allows. Also that month, the agency collected $1,940 from a tenant for a rental property in Yalyalup but lodged it six days after the 14 day deadline had expired.

Commissioner for Consumer Protection David Hillyard said real estate agents and property managers need to review their office procedures to ensure bonds are lodged within the 14-day timeframe.

“It’s essential that tenants’ funds are safe and secure and lodged with the Bond Administrator as soon as practicable but certainly no later than 14 days after receiving the funds,” Mr Hillyard said.

“The appropriate lodgement and security of tenant’s bond moneys is an issue that Consumer Protection takes seriously. Agents and property managers need to keep their business in order so they don’t run the risk of being prosecuted over this issue.”

More information on the obligations of real estate agents and sales representatives is available on the Consumer Protection website: www.consumerprotection.wa.gov.au or enquiries can be made by email consumer@demirs.wa.gov.au or by calling 1300 30 40 54.

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Media Contact: Alan Hynd, (08) 6552 9248 / 0429 078 791 / alan.hynd@demirs.wa.gov.au