The figures above are from the 2011-12 financial year. Below are figures from the 2012-13 annual report of the Residential Tenancies Authority (RTA).
- At the end of Ocotber 2013, the Residential Tenancies Authority (RTA) held about 519,787 bonds with a value of $706M
- In the 2012-13 financial year the RTA made $45.627M in interest by investing tenants bond money. Less than 10% of that interest would fully fund a statewide program of tenant advice at the level prior to funding withdrawal.
- Approximately 60% of the interest generated on tenants’ bonds was used to fund the operations of the RTA. While providing an information service, a dispute service and bond lodgement services for all parties in residential tenancies, the role of the RTA is to be impartial. The RTA is exclusively funded by tenants’ bond interest. It provides great benefit to Qld landlords and real estate agents, as well as the government, who receive services without having to contribute to their costs.
- Despite the RTA almost tripling the amount of grant money provided to the Department of Housing and Public Works in the 2012-13 year (just over $14M compared to $5.2M the previous year), tenant advice services funding was cut as of October 2012. The rest of this money was acquired by the Department for other projects leaving tenants without specialist advice and support.