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A property manager fails to lodge a tenant's bond with the appropriate authority within the required timeframe. What is the most likely consequence?

Correct Answer

D) The agent faces penalties, and the tenant may seek any compensation owed

Failing to lodge a bond within the required timeframe is a breach of legislative requirements that can result in penalties for the property manager. The tenant may also be entitled to seek compensation for any losses suffered due to this breach.

Answer Options
A
The tenant may end the lease immediately without paying any penalty
B
The landlord becomes personally liable for all the tenant's losses
C
The bond becomes invalid and must be refunded to the tenant in full straight away
D
The agent faces penalties, and the tenant may seek any compensation owed

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Related Topics & Key Terms

Key Terms:

bond lodgementresidential tenancy actproperty manager penaltiestenant compensationcompliance obligations
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