A new portable rental bond scheme in Victoria will allow renters to transfer bonds to new properties, providing landlords and agents with guaranteed protection and streamlined processes.
The Victorian government has announced a host of rent policy changes to promote a safer and fairer rental market through its Consumer Legislation Amendment Bill 2025.
Under the new rules, renters will be able to transfer their current bond to a new property under the Portable Rental Bond Scheme, ensuring a smoother transition to providers and agents.
Additional changes will require landlords and agents to provide documentation for any bond claims three days before lodging and provide supporting documentation to claim part of a bond through the Victorian Civil and Administrative Tribunal (VCAT).
The bill expands the range of safety checks required for a property to meet the mandatory minimum standards and bans the extra fees charged through ‘rent tech’ apps.
Victorian Premier Jacinta Allan said that the Portable Rental Bond Scheme would alleviate some of the stress of moving.
“We’re giving renters one less thing to worry about – and keeping money in their pocket,” Allan said.
“Most renters don’t just have a spare few thousand dollars lying around to cover the unnecessary cost of the dreaded double bond.”
Under the new scheme, renters will be able to apply to have their existing bond ported over to their new home, rather than needing to pay thousands out of pocket.
On successful applications, the government said it would act as a tenant guarantor for the bond on their current rental while the transfer occurs to the new property.
Renters would then pay the government back for any necessary bond reductions.
The Victorian government predicted that the reform would ease the cost of moving for more than 736,000 households.
Minister for Consumer Affairs Nick Staikos said the scheme would benefit those who are already struggling with the cost of living.
“The Portable Rental Bond Scheme will mean renters won’t be stuck paying two bonds at once – it’s a practical change that will make a real difference,” Staikos concluded.
The introduction of the portable bonds scheme will be the 150th rental fairness reform delivered in Victoria and follows on from the creation of Rental Dispute Resolution Victoria earlier this year.
