Melbourne agency under fire over alleged mishandling of $100k bond money

Western Region Real Estate Pty Ltd, trading as MASPROP Real Estate, allegedly failed to lodge the money properly with the Residential Tenancies Bond Authority, sometimes lodging it up to a year late.

In addition to the criminal charges, the agency and its director, Mitre Stojcevski, will appear at the Victorian Civil and Administrative Tribunal (VCAT) for failing to meet professional industry standards, including acting in their clients’ best interests.

Consumer Affairs Victoria (CAV)’s Rental Taskforce began investigating MASPROP after receiving a complaint from a renter trying to recover their bond.

The probe uncovered complaints from other renters and rental providers about the agency’s alleged failure to make urgent repairs to properties.

One renter allegedly had to cover urgent repair costs after repeated requests went unanswered, while another instance saw an undisclosed plumbing issue escalate into a major leak, costing a rental provider more than $4,500.

The criminal charges for not lodging bond money will be heard at a Melbourne Magistrates’ Court hearing on 20 August, while VCAT’s decision on CAV’s application for disciplinary action is pending.

CAV director, Nicole Rich, said being a licensed agent came with significant responsibilities, and the watchdog would continue to pursue those who failed to meet industry standards.

“It’s unacceptable for agencies to leave renters living in sub-standard conditions, and rental providers out of pocket for poor service,’ Rich said.

“Our Renting Taskforce will continue to take action against agencies that fail to meet their obligations, and undermine confidence in the market.”