$37m in tenancy bonds lost to Govt

PHOTO: STUFF – As the housing crisis continues to put a squeeze on capital renters, many are finding it difficult to reclaim their bonds.

The Government pocketed more than $37 million in unclaimed tenancy bonds in the past two years, some dating back to before 1989.

With between 4000 and 6000 bonds going unclaimed or uncollected annually, there are calls for changes to ensure tenants are able to get refunds they are entitled to.

Minister for Housing Phil Twyford said a review of the Residential Tenancies Act this year aimed to make life better for renters, however there were no plans to look at changing the process around unclaimed bonds.

Twenty-three-year-old Wellingtonian Dylan Gray felt the sting of losing her bond during her last year of university, and was only able to afford the next bond with the help of her mother.