MyBond Tenant Transfer Tasmania: How to Swap Tenants on the Bond

Why You Can't Just Swap Cash Between Tenants

In a shared house under a joint tenancy, one co-tenant leaving doesn't release their portion of the bond from the Rental Deposit Authority. Individual tenants cannot withdraw their share while the tenancy agreement continues. The bond stays lodged with the RDA in full until the entire tenancy ends.

The temptation is for the departing tenant to collect their share directly from the incoming tenant — a private cash handover. This keeps the money moving but leaves the statutory bond record unchanged. The RDA still shows the original tenant's name, and when the tenancy eventually ends, claims and disputes reference people who no longer live there.

Private cash swaps also forfeit your ability to enforce valid claims against the correct parties at the end of the tenancy. If damage occurs after the swap but the bond record still lists the departed tenant, the claim process gets tangled.

The Formal Tenant Transfer Process

MyBond handles tenant changes through its Tenant Transfer function. The process re-attributes the departing tenant's share of the bond to the incoming tenant on the official record held by the RDA.

Here's the sequence:

1. Initiate the transfer — the landlord or agent starts a Tenant Transfer request in MyBond
2. Digital consent — every party must approve: the departing tenant, the incoming tenant, all remaining co-tenants and the owner or agent
3. Record update — once all consents are received, the RDA updates the bond to reflect the new tenant

The incoming tenant doesn't need to pay the RDA again if the outgoing tenant's share is being re-attributed. The financial settlement between the departing and incoming tenant (reimbursing the outgoing tenant for their share) is a private arrangement — but the MyBond transfer is what makes it legally effective.

Deposit Contributors and Assisted Tenancies

When a third-party organisation — Anglicare Tasmania, Loreto Community Housing or a Homes Tasmania program — paid all or part of the original bond, they're registered as a Deposit Contributor under Section 3(1) of the Act. A contributor may lodge a claim under Section 29D if the statutory conditions are met, and MyBond notifies registered parties about claims.

If the departing tenant's bond share was originally paid by a deposit contributor, the transfer may require the contributor's involvement. Check the bond record in MyBond before initiating — if a contributor is listed, contact them to confirm the correct handling before the transfer goes through.

When a Landlord Takes Over From an Agent

A tenant transfer isn't the only scenario that changes the bond record. When a self-managing landlord takes over from a property management agency — or vice versa — the management of the active bond must also be transferred within MyBond.

The outgoing agent initiates a "Transfer Management" request, and the incoming party (you, if you're moving to self-management) accepts it. Until this is registered, you don't have administrative control over the bond and can't initiate claims or manage disputes.

Keeping the Record Clean

Every time a tenant changes in a share house, complete the formal transfer in MyBond before the departing tenant leaves. It takes a few minutes of digital admin and keeps the statutory record accurate — so when the tenancy eventually ends, the claim process runs against the right people with the right records.

Our Tasmania Rental Bond Guide includes a Tenant Transfer Worksheet covering the consent sequence, deposit contributor handling and management transfers for landlords switching to or from self-management.

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