Tenancy Services in the Ministry of Business, Innovation and Employment (MBIE) has launched an online service to simplify how landlords and tenants manage rental bonds.

This new digital service is designed to make the process quicker, more transparent, and easier to navigate.

Kat Watson, Head of Tenancy Services, explained that Tenancy Services currently holds around $900 million in the Residential Tenancies Trust Account.

She said, “We are proud to be guardians of New Zealand’s bond service, and excited to be launching a modernised, digital service to make it quicker and easier for tenants and landlords to manage bonds.”

The first phase of the online service enables both online bond lodgements and bond top-ups.

Landlords and tenants can now use online forms to lodge bonds, allowing for increased visibility throughout the process.

Property management companies can also connect directly with Tenancy Services via an online business-to-business software application (API), speeding up the bond lodgement process for larger companies.

“The ‘digital first’ online approach for bond lodgement is part of a wider modernisation project,” Watson noted.

“It’s led by MBIE and supported by Government and housing agencies across New Zealand. The new online service is a refreshing and welcome change from the clunky and heavily manual process with paper-based bond lodgement forms.”

This shift to a digital system is expected to improve customer experience and offer greater efficiency as more services are rolled out.

A second phase is planned for early 2025, with additional features to be added throughout the year.

These upgrades will allow customers to complete more bond management transactions online.

For tenants and landlords, this marks a significant step forward in managing rental bonds, and the continuous improvements will enhance the overall process as new services become available.