New South Wales renters will soon be able to move house without paying two bonds at once, after the state government confirmed the long‑anticipated bond transfer scheme is finally ready to roll out. Premier Chris Minns said the reform had been “a long time coming,” but stressed that with $2.4 billion held in NSW rental bonds, the government had to ensure the system was watertight before launch. “We can’t afford to get this wrong,” he said.
Under the new system, renters approved for a new property will receive a reference code allowing them to digitally transfer their existing bond through Rental Bonds Online.
The process will include a $25 user fee, and tenants will need to pay any difference if the new bond is higher than the previous one. Rental Commissioner Trina Jones said the government would cover any landlord claims during the transition, with tenants required to repay the amount afterward.
Disputes over bond claims will continue to be handled through the NSW Civil and Administrative Tribunal, with no changes to the existing process. “If it’s not agreed, renters and landlords go to NCAT,” Jones said. “The bond is then paid out based on conciliation or a tribunal order.”
Housing Minister Rose Jackson said NSW renters would be the first in Australia to benefit from the scheme, which she described as a major financial relief for people already struggling with the cost of moving. “It saves thousands of dollars not having to pay two bonds on top of removal costs, cleaning, and new furniture,” she said. “It’s hard enough being a renter in NSW without the added stress.”
The government hopes the reform will ease financial pressure on tenants and streamline one of the most burdensome parts of moving house.
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