BondsOnline eTransactions – Increasing a Residential Tenancy Bond

BondsOnline eTransactions – Increasing a Residential Tenancy Bond


Welcome to the Department of Commerce’s
BondsOnline eTransactions system. eTransactions allows real estate agents to lodge, vary and
dispose of bonds at any time in a fast, easy and secure environment similar to online banking.
This short video will take you through the process of increasing a residential tenancy
bond, also known as either an increase to the weekly rent or a bond top up.
From the eTransactions home screen, select the Bonds tab and enter the bond reference
number, or other criteria, and click search. Once your chosen bond appears, click either
the bond reference number or the tenancy address to open the bond details screen.
Scroll down the page and click the ‘Request Variation’ button at the bottom right of
the page. This will open the ‘Variation of security bond’ page.
Before you begin to enter information, ensure that the ‘online submission’ checkbox
is selected. As the same form is used for bond money increases,
tenant changes and lessor changes, you will need to specify which type of variation you
are completing by selecting the ‘Bond Money Increase’ checkbox. Be aware that you can
only complete one type of variation at a time. If the bond money increase relates to an increase
in weekly rent, ensure that the increase amount, the number of weeks and the total are completed.
If the bond money increase relates to a bond top up, for example when the tenant is paying
off the bond in small instalments, ensure that the weekly rent increase amount remains
as $0 x 4 weeks and that the total is completed. Now continue to complete the variation details.
The cream boxes indicate fields which are mandatory and represent the minimum information
required to complete a bond money increase. Once completed, click ‘submit’.
A pop up window will open summarising the tenancy bond details that you have entered.
If you need to make changes, click the ‘cancel’ button to return to the previous page. If
the details are correct, tick the ‘I confirm that the above details are correct’ checkbox
and click ‘Submit’. The bond variation has now been successfully
submitted to the Bond Administrator and a pop up window will open with the unique eTransaction
number generated for this particular transaction. It would be beneficial to record this number
for future reference, as it allows you to check the progress of the application. Once
you have recorded the number, select ‘ok’ to return to the home screen.
Tenant approval is not required for bond increases and once you receive an email advising that
the eTransaction has been submitted you will be able to complete the variation payment
approval. To do this click into the ‘Payment Approvals’ tab and then select ‘lodgement
and variation’. Once the payments screen opens, a list of
all bonds awaiting payment approval are shown. You can click and approve more than one payment
at a time if you choose to. Only users which have ‘approver’ level access can complete
payment approvals. Access levels are nominated when your agency signs the user agreement
and can be amended anytime by your agency’s Employee Account Administrator. At this point you will also see the ‘cancel’
checkboxes. It is important to note that selecting ‘cancel’ here will only void the payment
portion of the transaction and not cancel the transaction as a whole. To approve a payment
select the ‘Approve’ checkbox. You will note that the transaction amount will be displayed
at the bottom of the list and, if more than one approval selected, the amount will be
totalled together. Once you have made your selection of transactions to approve, click
the ‘confirm’ button. This will open another pop up window.
Here you will select ‘yes’ to confirm approval of payment for the selected transactions.
Another pop up window will open enabling you to generate a pdf report of the transactions
you have just approved for payment. Select either ‘Download’ or ‘close’ depending
on your preferred option. Selecting ‘close’ will return you to the payments screen. From
here, select the ‘home’ tab to return to the home screen.
With final approval having been completed, the bond money increase is now officially
lodged with Bonds Administration. If your payment approval was completed before 2pm
on a business day you can expect the payment to be deducted from your nominated account
that evening, otherwise the payment will be processed at 2pm the following business day.
A record of payment will be emailed to the agency and tenant once the payment has cleared.
For more information about the BondsOnline eTransactions system please visit www.commerce.wa.gov.au/bondsonline.

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