Rentstart Bond Loan factsheet for clients

About the Rentstart Bond Loan

The NSW Government offers an interest-free loan to cover part or all of the rental bond for eligible clients.  You may be eligible for a partial or full bond loan if you:

• are an Australian citizen or permanent resident
• are a resident of New South Wales
• have less than $3,000 in cash assets
• are eligible for social housing
• have been approved for a rental property
• will not be paying more than 50% of your household’s total gross weekly income in rent on the property you wish to lease. 

The loan is interest-free and paid back to Homes NSW. 

How the Rentstart Bond Loan works

You can apply for the bond loan online. Make sure your real estate agent or landlord can fill out their part of the form and provide details on the property.  

Once we approve your loan, we will tell both you and your real estate agent or landlord in writing. Your agent or landlord will then lodge the bond as normal. If you are approved for a partial Rentstart Bond Loan, you will pay your part of the bond directly to the real estate agent or landlord. Homes NSW pays the rest to the Rental Bond Board. The loan is interest-free and you will make regular loan payments to Homes NSW.  

If you need extra help with setting up a new tenancy, you may be eligible for up to two weeks’ Advance Rent.

Loan payment amount

Your payment plan will be based on how much of your income you will spend on rent. Your payments will be fortnightly and based on a 12- or 18-month payment plan. 

How to make your loan payments

If you receive an income from Centrelink

We will ask you to make payments using the Bond Loan Deduction Scheme. This automatically deducts your payments from your pension or allowance. 

If Centrelink is not your main source of income

You will be able to pay via BPAY or online via the MyHousing Online website. 

Return of your bond fee when the tenancy ends

If you repay the loan in full before the end of your tenancy

You can claim your bond back from the Rental Bond Board at the end of your tenancy.  

If your tenancy ends before the loan is repaid in full

We will receive the full amount of the bond from the Rental Bond Board. We will give you back any amount you have paid towards your loan. If your landlord or real estate agent makes a claim, you must continue to pay off the remainder of the debt to Homes NSW.  

Get more information and apply

Visit Rentstart Bond Loans or get in touch to find out more and apply.