Under the Residential Tenancies Act, a landlord is required to lodge the bond with the Bond Centre 23 working days after receiving the money.
Failure to lodge the bond was unlawful and exemplary damages of up to $1000 may be awarded by the tribunal.
Despite the tribunal ruling in their favour, they have all but given up hope of ever getting their money back.
Guardian Property Management Services is still listed as a company with the Companies' office but it's not no longer operating in Whangarei.
Robyn Waterhouse signed a tenancy agreement with the company in February and a week later her partner Troy George paid $2521 which included $1640 as bond to an account number specified in an email from Ms Botica.
That number differed from the company's account which was stated on the tenancy agreement, the tribunal noted. "The circumstances around the disappearance of this bond strongly suggests that the bond has been misappropriated."
Ms Waterhouse said she discovered their bond money hadn't been lodged after a call to the Bond Centre.
"We can get a debt collector but that will cost us money. I don't think we should pay to get our money back, she said.
"It's crazy that people can get away with things like that. Seems too easy for them."
Another tenant Nicole Jones paid $800 as bond to Ms Botica who didn't have her receipt book with her but said she would send her a receipt shortly.
Ms Jones never received a receipt.
"It's really unfair. Everything (all correspondence) with Guardian is registered to a PO Box address and even if I engage debt collectors, they may end up nowhere."
Two others, David Fu and Ricardo Tjandrawidjaja, paid $1200 as bond for a unit in Central Ave but the money wasn't lodged.
At the end of their tenancy, both men received a partially completed bond release form that indicated Guardian Property Management Services would retain $315 for repairs and cleaning costs.
They tried to get details from Ms Botica about those costs but were unsuccessful.
"The circumstances around the non-lodgment of the bond, and Ms Botica's evasive behaviour at the end of this tenancy suggest that the bond was not only not lodged but was in fact misappropriated," the tribunal ruled.