Payment of Rent by Electronic Transaction

Section 86 of the RTRA Act (Qld) sets out when rent is deemed to be paid when the tenant pays electronically. Effectively if the tenant can prove when they paid rent, that day is deemed to be the day in which the rent is paid.

 86 Payment of rent by electronic transaction

(1) This section applies—

(a) if a tenant effects an electronic transaction to pay rent to

the account of the lessor or lessor’s agent on a day; and

(b) does not take any action to defer the payment to the

lessor’s or lessors agent’s account to a later day.

(2) Payment is taken to be received by the lessor or lessor’s agent

on the day the tenant effects the electronic transaction.

(3) Subsection (2) applies even if, because of circumstances

beyond the tenant’s control, the payment to the lessor’s or

lessors agent’s account happens on a later day.

Example—

The tenant uses BPay to authorise payment of rent to be debited to the

tenant’s account on a Wednesday. However, the financial institution,

because of its internal arrangements, does not actually debit the tenant’s

account and credit the lessor’s or lessors agent’s account until the next

day. The rent payment is taken to have been received by the lessor or

lessor’s agent on the Wednesday.

 If you are a Platinum Elite, Gold Priority or Elite Individual Member of Real Estate Excellence and require further advice in relation to this matter or any other best practice agency matter please contact Stacey Holt.

This information is current as at 11^th July 2011.

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