Tenant Bond Transfer

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Screen Location... Tenants main screen > Add > Bond Transfer



Use this screen to enter or view the details of any bond transferred from a property the tenant previously rented to the current one.

Add, Change and Delete

Bond Transfers can only be accessed by going to the Tenant's Transactions grid.

To add a transfer click [Add] and select BondXfer.
Bond transfer records may be edited or deleted using the Navigator Bar [Edit] and [Delete] buttons.

Editing may be done in any period because no money enters or leaves the system.  It merely affects how much a tenant owes.

Field usage is largely self-explanatory.

Reference should contain the Bond Transfer notice number.

When creating the tenant the total bond payable on the property should have been entered on the first Rent Inv record.

Record the value of the bond transferred as advised by the bond authority.

This amount will be deducted from the total property bond leaving any residual as bond to be paid by the tenant.

If a tenant is moving from one of your managed properties to another, you will need to set up a complete new landlord/property/tenant hierarchy and the full bond payable on the property should be entered in the first Rent Inv record.

Assuming the old property bond has been fully disbursed to the bond centre, you now need to enter a Bond Transfer equal to the bond paid on the old property and notify the bond authority of the transfer.  Any unpaid portion of the new bond will show as owing on the new property.

Where there is any undisbursed bond on the old property enter a negative value Bond only receipt with a value equal to the undisbursed bond.  Enter a "normal" Bond only receipt into the new tenant.  If some bond has been disbursed handle that as above.

The situation is exactly the same if the property ownership changes hands with the tenant remaining in situ a new landlord, property, tenant combination is required and the bond recording should be handled the same way.

This can be a messy area and there are several worked examples in the "How Do I ..." > Landlords > Change of Landlord topic.

Related Topics
Bond Processing
Payments Overview