The Minns Labor Government is giving renters’ their first look at Smart Rental Bonds this week as we continue to deliver on our election commitment to make renting fairer. 

With the IT build done and extensive system testing beginning, the more than 2.3 million renters in NSW are a step closer to accessing this critical cost-of-living measure. 

We know moving house is tough and we know it can be expensive. Smart Rental Bonds will allow renters to digitally transfer their bond between properties for a small fee of $25. This means they will no longer have to find thousands of dollars for a “second” bond while waiting for the previous bond to be refunded. 

With the average renter spending $4,000 each time they move, Smart Rental Bonds has been designed as a simple, easy-to-use solution for renters to alleviate financial stress:

How the Smart Rental Bonds system works:

• Renters will be notified once a landlord or agent lodges a bond request online.

• The renter logs onto Rental Bonds Online and chooses to either pay their new bond upfront, or use Smart Rental Bonds to move their existing bond to the new property.

• If the new bond is higher than the old one, the renter will need to pay the difference – but if the bond is cheaper, they will get the difference back provided no agreed claim on the bond. 

• If a landlord makes a claim on a bond and the renter agrees, the NSW Government will pay the landlord upfront. The renter will then repay the Government, meaning landlords face no financial risk.

This is in addition to the following historic Minns Labor Government rental reforms that have been in place since they were passed by the NSW Parliament since October 2024, we have:

• Banned no grounds evictions

• Limited rent increases to only one per year

• Banned renters paying for background checks when applying for a property

• Made it easier to have pets in rentals

• Ensured renters have fee-free ways to pay their rent