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Rental Bonds Online help available

20 October 2017

REINSW’s Property Management Committee recently held a roundtable discussion with NSW Fair Trading on the Rental Bonds Online (RBO) system.

During the discussion, it became evident that the RBO has a very comprehensive help section that some agents may not be aware of. Once an agent logs in to the portal, there is a ‘help’ link located next to the announcements and enquiries links, in small text.

The help link is available on each page once you’re logged in and when you click it, an extensive list of tasks that a property manager needs to attend to can be found.

One of the outcomes from REINSW’s discussion will hopefully see the RBO help link made more prominent. NSW Fair Trading are considering the possibility of incorporating this improvement into their next release.

The list of tasks listed under the help section include:

  • Creating a new bond
  • Managing pending lodgements
  • Managing refund claims
  • Managing online bonds
  • Managing paper bonds
  • Managing agency details
  • Managing user logon accounts
  • Managing properties
  • Managing security mode
  • Running reports.

Each section also includes screenshots of how to carry out the required action. Alternatively, property managers can call 1800 990 724 for help, Monday to Friday, from 8.30am to 5pm.

RBO is mandatory

It is now mandatory for agents and landlords to offer an online service to tenants signing a new lease using RBO. Persistent non-compliance could result in a $2,200 fine. Find out more about the RBO here.

The new RBO system is also included in the NSW Fair Trading new tenant checklist factsheet, which you can download here or from REI Forms Live here.

REINSW spoke to property managers about their views on the RBO when it launched on 30 January 2017.

On the whole they praised it for being quicker to lodge the bond online, helping tenants feel empowered and making it more transparent.

However one of the main concerns was about the increased chance of a tenant withdrawing the bond early before they leave through the RBO system. Find out more about their views here.