8 May 2012

Old tenancy bonds unclaimed

3:29 pm on 8 May 2012

Approximately $5.8 million of old, unclaimed tenancy bonds are sitting in Government coffers with people forgetting, or not bothering, to claim the money back - in some cases for decades.

The Tenants Protection Association says the Department of Building & Housing should be doing a better job of returning the bonds, or put what they say is wasted money to better use.

Figures obtained by Radio New Zealand show the oldest funds have in the coffers since 1986.

The Tenants Protection Association wants a time frame introduced, so the money can be used for tenancy services if it takes too long to claim.