Government pockets $37 million in unclaimed tenancy bondsSTUFF As the housing crisis continues to put a squeeze on capital renters, many are finding it difficult to reclaim their bonds. The Government pocketed more than $37 million in unclaimed tenancy bonds in the past two years, some dating back to before 1989. READ MORE:* Tens of millions in unclaimed tenancy bonds reclaimed* Rental squeeze: 'Sometimes you have to sweeten that deal'* What's squeezing the life out of New Zealand's rental market? Outstanding unclaimed bonds dating to 1986 were vested with the government in 2016, where it was treated as general income, resulting in $32.6m from more than 121,000 bonds being taken. ROSA WOODS/STUFF Renters United organiser Robert Whitaker says the money collected from unclaimed tenancy bonds should be put towards advocacy bodies to improve the lives of renters.

Source: Stuff March 19, 2018 03:00 UTC