Issues Paper - Development of a Central Bond Holding Scheme in the Northern Territory
An issues paper has now been released for discussion purposes and to elicit comment on a proposal to establish a rental deposit authority in the Northern Territory.
All other Australian jurisdictions have mandatory rental deposit systems, except for the Northern Territory. Whilst this topic has been the subject of ongoing discussion for more than a decade in the Territory, the status quo has been maintained in spite of impetus from a number of sources to move to establish a scheme.
This issues paper suggests that the establishment of a centralised bond holding scheme is the most efficient and equitable vehicle to promote fair dealing between property owners and tenants in the disbursement of the rental deposit.
To download the Issues Paper and read more on this subject, go to the following web page – comments and feedback close 31 May 2015.