What is a Bond Loan?
A Bond Loan is an interest-free loan provided to eligible applicants to help them access the private rental market. A Bond Loan relates only to the money forwarded to the Residential Tenancies Authority. It does not include the initial two weeks rent in advance.
As a lessor or lessor's agent, you must confirm the details of the proposed property to be rented. The confirmation of these details is vital to the Bond Loan application process. It may also be necessary for a Housing Service Centre to contact you regarding the information provided on the application.
Bond Lodgement Form 2C
When the Bond Loan has been approved, the department will provide you with the Bond Lodgement - Bond Loan 2C. You must lodge the Form 2C or R2C with the Residential Tenancies Authority within ten working days. If this is not done, the Bond Loan will be cancelled.
No changes can be made to details on the forms. If a change is made, the Residential Tenancies Authority will not accept the form and the Bond Loan will be cancelled.
Transfer of bond
Transferring a Bond Loan to another property is possible if both the current and future lessor or lessor's agent are the same and agree to do so. Bond Loans may be transferred provided no claim is made on the original bond. The Transfer of Bond Form 3 should be lodged directly with the Residential Tenancies Authority.
If there are any changes to the original tenants listed on the bond, then the Bond Loan cannot be transferred.
Changes in shared tenancy
It is possible to remove a person from a Bond Loan if one tenant vacates the property. All parties have to agree to this, as the remaining tenant/s must accept responsibility for the remainder of the debt. To remove a name from a shared tenancy Bond Loan:
- a Change of Shared Bond Arrangement Form 6 must be completed and signed by all tenants as well as the lessor or lessor's agent
- all tenants on the agreement must attend a Housing Service Centre with the completed Form 6 and sign an Agreement of Release to amend the Bond Loan agreement
- the Residential Tenancies Authority must be notified through the lodgement of the Form 6.
If a Form 6 is lodged without first contacting the department, the Residential Tenancies Authority will not process the changes.
What are my responsibilities at the end of a tenancy?
A Refund of Rental Bond Form 4 should be lodged with the Residential Tenancies Authority at the end of a tenancy even if no claim is being made. This allows the department to finalise the Bond Loan account details. The lessor or lessor's agent has first claim against any bond held by the Residential Tenancies Authority.
Conciliation
The department will not enter into any dispute between a lessor or lessor's agent and tenants. If you have a dispute with your tenant/s you should contact the Residential Tenancies Authority or the Dispute Resolution Centre .
More information
A printable factsheet is available - Fact sheet for lessor or lessors' agents Fact sheet for lessor or lessors' agents .
For more information, see Bond Loans or frequently asked question for existing Boan Loan clients.
Or view the map for your local Housing Service Centre contact details.
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