WA agent fined $10K
An East Perth real estate agency and property management company has been fined $10,400 for taking too long to lodge security bonds with the Bond Administrator.
Wentworth Mutual Investment Management P/L, trading as Century 21 Wentworth Real Estate, was also ordered to pay costs of $643 by the Perth Magistrates Court on 8 November.
Lawyers for Consumer Protection told the court that the company had taken between 17 and 53 days to lodge 26 bonds totalling $39,200. The bonds were collected during March and April 2012 and the agency was charged after previously being warned for late bond lodgements.
The agency faced 26 charges of failing to lodge security bond money with the Bond Administrator ‘as soon as practicable’, as was required under the Residential Tenancies Act at the time. On 1 July 2013 the Act was changed, requiring agents to lodge bonds ‘as soon as practicable and, in any event, within 14 days of receipt’.
Acting commissioner for Consumer Protection Gary Newcombe said delays in lodging bond money with the Bond Administrator is a serious breach of tenancy laws.
“Tenants need to be assured that their funds are safe and secure. Consumer Protection will take action against agents, property managers or landlords who retain these funds for an unreasonable amount of time and fail to comply with the law,” Mr Newcombe said.
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