Yahoo Finance $56 million in unclaimed cash - how to check if you’re owed money
The money is just gathering dust and there's a very easy way to find out if you're eligible.
Tens of millions of dollars in rental bonds are gathering figurative dust after going unclaimed by Aussies who finished their tenancies.
About a third of Australians are renters, and while some ask for their bond back the moment they move out, it appears others forget about the money they handed over at the start of their lease.
Queensland’s Rental Tenancies Authority (RTA) has revealed a whopping $56 million worth of outstanding rental bonds haven’t been claimed. Sometimes it can be blamed on a simple, yet costly typo, but officials have told Yahoo Finance how easy it is for you to claim the money back.
Have you had an issue with your bond? Contact stew.perrie@yahooinc.com
Around 120,000 payments, worth an average of $465, are waiting to be picked up.
Brisbane has the highest number of unclaimed bonds, with a little more than 42,300, while the Gold Coast comes in second with nearly 16,000. The most expensive unclaimed bond is $16,000, while the oldest is from 1990.
The RTA told Yahoo Finance a bond refund would usually be issued when a tenancy ended, but issues could pop up.
“Sometimes bond refunds are not successful due to missing or incorrect details provided,” a spokesperson said.
“The RTA encourages Queenslanders to keep their contact and bank details up to date during a tenancy, and claim any unclaimed rental bond amounts. Customers can search for and claim any outstanding monies owed by updating their details online with the RTA.
RELATED:
“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.”
Follow us on Facebook, LinkedIn, Instagram and X (Twitter) + subscribe to our newsletter.
How to check if you’re eligible for money
The process of checking your eligibility and getting your money back is fairly straightforward.
All you have to do is send an enquiry to the Queensland RTA here and it will look into the system to see if you have any outstanding funds.
“In July 2023, the RTA launched a statewide campaign encouraging Queenslanders to claim their outstanding rental bond payments,” the spokesperson for the RTA said to Yahoo Finance.
“Since this time, the largest outstanding rental bond returned was $25,000 in New Farm and the oldest outstanding bond returned was from 2006 in South Gladstone.”
