Lodging the Bond in Victoria
1. Tenant to pay the bond in Cubbi
When a lease is signed for a new tenancy, the tenant receives a link to approve the bond payment. The payment is to be made via BPay or NPP. This must be approved by the tenant at least 3 business days before the lease start date to allow time to clear.
Keys must NOT be given until the bond has cleared
2. Owner to set up bond lodgement with RTBA Online
When the Bond payment has cleared everyone will receive an email to confirm the funds have cleared with instructions and bond lodgement details for the owner to set up the bond lodgement with the RTBA. This takes 10 minutes.
3. Tenants to verify bond
All tenants will receive an email and SMS to verify the bond lodgement. This is the equivalent to paper signing (no paper forms).
4. RTBA will debit the bond
After every tenant has verified, the bond will be debited from the owners bank account listed in RTBA Online within 2 business days.
5. Owner to record the Bond Receipt number in Cubbi
Everyone will receive confirmation the bond has been lodged and the official Bond Number from the RTBA. The owner must record this number in Cubbi to finalise the lodgement.