Transferring a bond

From 1 May 2019, all bonds must be managed online through Mybond, including transfers

Change of ownership or management of property

We must be notified when the manager of a rental property changes.  This might happen when:

  • a property agent takes over management of a property for an owner
  • a property is sold, or
  • property management transfers to a new agent.

Before a transfer can be done, the owner/agent of must know the details of the new owner/agent.  Contact the new owner/agent or CBOS to get the owner/agent ID number.

If management of a property transfers to a different owner or agent during the tenancy the:

  1. outgoing owner/agent must start the transfer process in MyBond
  2. outgoing owner/agent needs to have the incoming owner or agent’s ID number
  3. incoming owner/agent will be sent a notification from MyBond after the transfer is submitted
  4. incoming agent/owner will need to log in to MyBond and accept the transfer

When the incoming owner/agent accepts the transfer, the outgoing owner/agent is no longer able to view the bond details.

If the incoming owner/agent does not accept the transfer within the timeframe, the transfer will be rejected.

Quick Reference Guides are available to help:

Transferring tenants in and out of properties

Where a property has multiple tenants, one tenant can transfer out of the lease and a new tenant take their place.

To do this:

  1. An agent/owner must start the transfer process in MyBond.
  2. The outgoing tenant will receive a notification from MyBond. They will need to log in to MyBond to approve the transfer.
  3. The incoming tenant will receive a notification from MyBond to pay their bond contribution
  4. When the transfer is approved and the bond contribution paid, the outgoing tenant will be paid their contribution.

Quick Reference Guides are available to help:

When a bond cannot be transferred

If a tenant is removed from the lease but no new tenant is moving into the property, the bond cannot be transferred.

In this case, either:

  • the outgoing tenant must wait until the end of the lease, or
  • the current lease will need to end early by agreement, and a new lease will need to be signed by the remaining tenants.