Since the introduction of this expanded waiver in October last year, 39 victim-survivors, who would otherwise have been ineligible for a Renstard Bond Loan, have been approved for the scheme and are in safe and stable accomodations.
Under the Homes NSW Rentstart Bond Loan scheme, eligible people can access a loan of up to 100 per cent of their rental bond to secure rental accommodation. Previously, an income eligibility had to be met in order to access this scheme.
Eligible clients have a up to three years to repay the interest-free loan.
This commitment was made as part of the NSW Government’s broader agenda to address homelessness in NSW, with women and children escaping domestic abuse accounting for 39 per cent of specialist homelessness service users.
Opening up Renstart Bond Loans to all income levels recognises the urgency of a domestic violence response, and removes a potential financial barrier which may be faced when leaving a violent situation.
While domestic and family violence is the leading cause of homelessness for women, annually in Australia it is estimated that 7,690 women a year return to perpetrators due to having nowhere affordable to live.
This follows the NSW Government expansion of the Shared Equity Home Buyer Helper trial in 2023, to include domestic and family violence victim-survivors. This program will see the NSW Government contribute up to 40 percent of the purchase price for a new home, or up to 30 per cent for an existing home.
More information on the Rentstart Bond Loan scheme is available at https://www.facs.nsw.gov.au/housing/factsheets/rentstart-bond-loan.
Minister for Housing and Minister for Homelessness Rose Jackson said:
“I have heard heart-breaking stories of women and children forced to sleep in their cars because they have fled a violent home.
“We are building a future where homelessness is rare, brief, and not repeated.
“Offering financial assistance to eligible people to help them get a foothold in the private rental market will give them the safety and stability they need to move on with their lives.”
Minister for the Prevention of Domestic Violence and Sexual Assault Jodie Harrison said:
“Domestic and family violence is one of the leading causes of homelessness for women and children.
“No woman should have to choose between staying in a violent relationship or sleeping rough.
“Expanding the eligibility criteria of the Rentstart Bond Loan scheme to enable domestic violence victim-survivors to rent a home on the private market allows them to rebuild their lives with confidence, knowing they have stable housing.
“This program, along with the expansion of the Shared Equity Scheme from 1 December 2023, reflects the NSW Government’s strong commitment to helping women and children escaping domestic and family violence.”