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
D) State residential tenancy 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.
Why This Is the Correct Answer
Bond lodgement deadlines are set by each state's residential tenancies legislation, and the money is trust money until lodged. A late lodgement is a breach of those rules, not of the ACL.
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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?
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A property manager receives a rental bond of $2,800 on Monday. According to typical trust account requirements, when must this money be deposited into the trust account?