Renters in NSW can now transfer their existing rental bonds to new properties, slashing moving costs and easing financial pressure—especially for low-income tenants. The Smart Rental Bonds scheme, launched in select areas like Parramatta, Penrith, and the Central Coast, lets renters move their bond online for just $25 per transfer. If the new bond is pricier, you pay the difference; if cheaper, you get a refund (as long as no claims exist). Landlords retain rights to claim unpaid rent or damages. While the Tenants’ Union questions the fee’s impact on vulnerable renters, the government sees it as a small cost that saves thousands overall. The program will expand statewide by year’s end, after testing to ensure stability with nearly $2.3 billion in bonds involved.
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