Assistance is now at hand for renters
Victorian government makes move to help renters by allowing a transfer of bond payments between houses.
THE days are over for Victorian renters who would normally wait weeks for the return of their old bond.
From Wednesday, Victorians can transfer their existing bond to their next rental and avoid wearing the cost of two bonds at once.
The Victorian Government’s new Portable Rental Bond Scheme means renters can port their bond across through the existing residential tenancies bonds system.
It ends a situation where renters were left out of pocket, often for weeks, waiting for a refund on their old bond.
The average renter will save over $2500 by not having to find the money for a second bond, with a small $25 fee covering the transfer.
Minister for Renters Paul Edbrook said: “Moving house shouldn’t mean paying two bonds at once – from today, it won’t.”
“Labor is backing renters with practical changes that make a real difference to Victorians’ lives.”
The Scheme is the latest in a series of reforms for renters, including banning rental bidding and no-fault evictions, establishing minimum rental standards and standard application forms.
New laws introduced to parliament last month will cap the cost of breaking a lease to a maximum of four weeks rent.
The new laws will also guarantee renters the right to additional keys or fobs.
