A property manager fails to lodge a tenant's bond within the required timeframe. This breach primarily falls under which area of consumer protection?
Correct Answer
B) State residential tenancies legislation and trust account requirements
Failure to lodge tenant bonds within required timeframes is primarily governed by state residential tenancies legislation and trust account requirements. This is a regulatory compliance issue rather than misleading conduct under the ACL.
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A property manager fails to lodge a tenant's bond with the relevant state authority and instead keeps it in the agency's general operating account. What consumer protection laws have been breached?
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A property manager receives a rental bond of $2,400. According to trust account regulations, what must happen to these funds?