Bunbury property management firm fined $10,000 for late bond lodgement

Bunbury property management company Just Property Management (WA) Pty Ltd has been fined $10,000 for taking too long to lodge security bonds with the Bond Administrator.

The company was also ordered to pay costs of $715 by the Bunbury Magistrates Court on 17 May 2013.

Lawyers for Consumer Protection told the court that the company had taken between 17 and 46 days to lodge 37 bonds totalling more than $50,000. The bonds were collected during May and June 2012. The company faced 37 charges of failing to lodge security bond money with the Bond Administrator ‘as soon as practicable’, as required under the Residential Tenancies Act.

Commissioner for Consumer Protection Anne Driscoll said this is the third real estate agency or property management company that has recently been fined for lodging late bonds.

“Delays in lodging bond money is in breach of the law and tenants need to be assured that their funds are safe and secure,” Driscoll said.

“Consumer Protection will take action against agents, property managers or landlords who retain these funds for an unreasonable amount of time and fail to comply with the law.”