Work is now underway to replace the current tenancy bond system with one that uses new digital solutions to give our customers an improved service and experience.
Improving our service
Tenancy Services hold more than $750m of bond money from tenants in the Tenancy Bond Trust Account.
We have a responsibility to make sure our customers continue to have access to a reliable and efficient tenancy bond system that meets their changing needs. Work is now underway to replace the current system with one that uses new digital solutions to give our customers an improved service and experience.
Improving customer experience
The new system will include added features and provide an improved experience for our customers, including:
- faster processing when lodging bonds or getting refunds
- ability to check your bond status
- self-service features to manage bonds online
- better integration for customers using property management software
- improved support for more complex bond situations.
We will focus on our customers’ needs when designing the new system to make sure it is easy to use and can better help landlords and tenants comply with tenancy law.
This project is funded from Budget 2021. The intention is to replace the current tenancy bond system – not making changes to legislative requirements on tenancy bonds.
Wellbeing Budget 2021: Securing Our Recovery(external link) — The Treasury
Designing a future-proof solution
Replacing the current tenancy bond system is a huge task. We also need to make sure existing and new customers are not impacted by this change. We expect work to continue in the next couple of years for designing and thoroughly testing the new system to have confidence that it can meet current requirements and future needs.
In the meantime, we are working on some enhancements to the current tenancy bond system and our processes. Support channels such as our Service Centre are still available to customers. These options will remain for customers who are not able to engage with us online.
Listening to your feedback
We will invite for customer feedback at different phrases of the project, such as when we are designing and testing proposed features and solutions for the new system. This will help us to build a new system that can meet your needs and expectations.
In early 2022, we completed a round of interviews with a broad range of users of the current tenancy bond system. In February 2022, a survey on the bond transfer service was made available on our website.
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