Lodging the bond in Queensland
The tenant pays the bond in Cubbi where it is held in trust until move-in day.
On move-in day the bond is transferred to the owner with instructions to lodge the bond with the RTA (Residential Tenancies Authority) QLD.
New process from January 2020
1. Tenant to pay bond - When a lease is signed for a new tenant moving in, the tenant receives an email to pay the bond (via BPAY or NPP). The tenant should allow 2 business days for the money to reach Cubbi (and therefore be marked as paid). If the payment is made instantly via NPP the bank may still delay the payment to Cubbi by 1 day if it is the first time money has been paid to Cubbi via NPP (standard process for banks to reduce the risk of fraud).
2. Bond held in trust - When the bond payment clears, it is held in trust until move-in day.
3. Bond transferred to owner - On move-in day, the bond money is transferred to the owner. Allow 1-2 days to reach the bank account.
4. Owner to lodge bond with RTA online - Instructions are sent to the owner to lodge the bond online with the RTA. Click on Start Now. (if you don't have QGov account you'll be directed to create one). The owner will need to pay the Bond to the RTA via credit/debit card or BPAY.
5. Tenant to confirm Identity and Bond info - Tenants listed as bond contributors will receive an email to verify their identity and association to the rental property. This replaces tenants signatures on the old paper based bond forms.
6. Acknowledgement sent from RTA - Acknowledgement of Rental Bond containing a bond number will be sent to all parties listed as bond contributors.
7. Enter Rental Bond Number in Cubbi - The owner must enter the Rental Bond Number into Cubbi to complete the process. This should be done asap after receiving it from the RTA.