Property Manager Fined $15,000 for Trust Account Breaches

A Perth property manager has been fined $13,000 and reprimanded by the State Administrative Tribunal for serious trust account offenses, demonstrating the severe consequences for mishandling tenant funds.

Rhonda Denise Reid, former director of a Nedlands agency, made 13 unauthorized withdrawals totaling $36,290 between May 2014 and June 2016 without the agency licensee's knowledge.

The Severity of Trust Account Breaches

The WA Consumer Protection Commissioner emphasized that "withdrawals from trust accounts must be authorized by the person for whom the money is being held, whether that be the property owner, buyer or tenant."

This case highlights a critical issue - property managers have access to significant tenant funds including:

• Rental bonds (typically 4 weeks' rent)
• Advance rent payments
• Maintenance funds
• Utility payments

Pattern of Misconduct

This wasn't Reid's first offense. Previous disciplinary actions included:

• 2014: Reprimanded for failing to disclose meth contamination
• 2013: Unsatisfactory conduct in property promotion
• 2010: Employment tribunal decision for inappropriate behavior

Protecting Your Bond Money

With property managers handling millions in tenant funds, protection is crucial:

1. Always get receipts for all payments
2. Ensure bonds are lodged with official authorities
3. Track all financial transactions
4. Report suspicious activity immediately

How Bondinator Protects You

Bondinator's comprehensive tracking system helps safeguard your money by:

• Recording all payment receipts digitally
• Tracking bond lodgment confirmations
• Monitoring payment timelines
• Creating audit trails for every transaction

Our app ensures you have immediate access to financial records, making it impossible for unauthorized withdrawals to go unnoticed. With organized evidence at your fingertips, you can quickly report misconduct to authorities and recover misappropriated funds.

Don't leave thousands of dollars vulnerable - Bondinator helps you maintain bulletproof financial documentation throughout your tenancy.