Are you missing out on $56 million in unclaimed cash? Find out here
- Replies 2
It's not uncommon to lose track of various financial matters, especially when life gets busy with family, health, and a myriad of other concerns.
However, it's worth taking a moment to consider whether you might be one of the many Australians who have left money behind without realising it.
In an astonishing revelation, it turns out that a staggering $56 million in rental bonds are lying unclaimed, just waiting for their rightful owners to step forward.
For those who may have moved several times over the years, it's possible that amidst the chaos of packing boxes and setting up new homes, the return of a rental bond slipped through the cracks.
The Queensland Rental Tenancies Authority (RTA) has shed light on this issue, noting that a significant number of Aussies have not reclaimed their bonds after finishing their tenancies.
With about a third of Australians being renters at some point in their lives, the chances are high that many might be affected.
The RTA's figures are eye-opening: around 120,000 payments, averaging $465 each, are uncollected.
Brisbane tops the list with over 42,300 unclaimed bonds, followed by the Gold Coast with nearly 16,000.
The most jaw-dropping figures include an unclaimed bond of $16,000 and another that dates back to 1990.
The RTA said a bond refund would typically be issued at the end of a tenancy, but issues may arise.
A spokesperson explained: ‘Sometimes bond refunds are not successful due to missing or incorrect details provided.’
‘The RTA encourages Queenslanders to keep their contact and bank details up to date during a tenancy, and claim any unclaimed rental bond amounts,’ they added.
The RTA has made it clear that claiming your bond back should be a straightforward process, but it's essential to keep your information current to avoid any hitches.
‘We understand the end of a tenancy can be a busy time for many people, which is why we continue to raise awareness that bond monies are held with the RTA and are waiting for their rightful owners to claim at any time,’ they said.
If you're wondering whether you might have an unclaimed bond out there, the process to find out is simple.
You can send an enquiry to the Queensland RTA on their website here: http://rta.qld.gov.au/bondpayments.
They will check their system for any funds that might belong to you. It's a step that could potentially reclaim money that is rightfully yours, which could be put to good use in your retirement years.
In July 2023, the RTA even launched a campaign to encourage Queenslanders to claim their outstanding rental bond payments.
Since the campaign's inception, some significant amounts have been returned to their owners, including a notable $25,000 in New Farm and a bond from 2006 in South Gladstone.
So, members, it's time to take action and check if you're among the many who could benefit from a little extra cash.
If you're unsure about the process or need assistance, don't hesitate to reach out to family, friends, or even a trusted financial advisor who can help guide you through the process.
You can also reach out to RTA via phone at 1300 366 311 or +61 7 3224 1600.
You can also watch their tutorial here:
Source: RTAQueensland/YouTube
What are your thoughts on these unclaimed rental bonds, members? Have you checked if you're owed money? Share your experiences and thoughts in the comments below.
However, it's worth taking a moment to consider whether you might be one of the many Australians who have left money behind without realising it.
In an astonishing revelation, it turns out that a staggering $56 million in rental bonds are lying unclaimed, just waiting for their rightful owners to step forward.
For those who may have moved several times over the years, it's possible that amidst the chaos of packing boxes and setting up new homes, the return of a rental bond slipped through the cracks.
The Queensland Rental Tenancies Authority (RTA) has shed light on this issue, noting that a significant number of Aussies have not reclaimed their bonds after finishing their tenancies.
It was reported that $56 million in rental bonds remain unclaimed. Image source: Shutterstock
With about a third of Australians being renters at some point in their lives, the chances are high that many might be affected.
The RTA's figures are eye-opening: around 120,000 payments, averaging $465 each, are uncollected.
Brisbane tops the list with over 42,300 unclaimed bonds, followed by the Gold Coast with nearly 16,000.
The most jaw-dropping figures include an unclaimed bond of $16,000 and another that dates back to 1990.
The RTA said a bond refund would typically be issued at the end of a tenancy, but issues may arise.
A spokesperson explained: ‘Sometimes bond refunds are not successful due to missing or incorrect details provided.’
‘The RTA encourages Queenslanders to keep their contact and bank details up to date during a tenancy, and claim any unclaimed rental bond amounts,’ they added.
The RTA has made it clear that claiming your bond back should be a straightforward process, but it's essential to keep your information current to avoid any hitches.
‘We understand the end of a tenancy can be a busy time for many people, which is why we continue to raise awareness that bond monies are held with the RTA and are waiting for their rightful owners to claim at any time,’ they said.
If you're wondering whether you might have an unclaimed bond out there, the process to find out is simple.
You can send an enquiry to the Queensland RTA on their website here: http://rta.qld.gov.au/bondpayments.
They will check their system for any funds that might belong to you. It's a step that could potentially reclaim money that is rightfully yours, which could be put to good use in your retirement years.
In July 2023, the RTA even launched a campaign to encourage Queenslanders to claim their outstanding rental bond payments.
Since the campaign's inception, some significant amounts have been returned to their owners, including a notable $25,000 in New Farm and a bond from 2006 in South Gladstone.
So, members, it's time to take action and check if you're among the many who could benefit from a little extra cash.
If you're unsure about the process or need assistance, don't hesitate to reach out to family, friends, or even a trusted financial advisor who can help guide you through the process.
You can also reach out to RTA via phone at 1300 366 311 or +61 7 3224 1600.
You can also watch their tutorial here:
Source: RTAQueensland/YouTube
.png){kind=icon}
