Central Coast renters to trial $25 bond transfers from August
The Central Coast will join Parramatta and Penrith in the first phase of NSW’s Smart Rental Bonds rollout, which the state government says could save eligible renters up to $4,000 in upfront moving costs.
Central Coast renters moving home from August will be among the first in NSW able to transfer an existing rental bond digitally to a new property.
The Central Coast, Parramatta and Penrith will lead the phased rollout of Smart Rental Bonds, an optional scheme designed to reduce the need to pay a second bond while waiting for an old one to be refunded.
The NSW Government says eligible renters could save up to $4,000 in upfront moving costs. Statewide access is expected by the end of 2026.
To use the scheme, renters must be moving between two NSW rental homes, use Rental Bonds Online and have an existing bond linked to their account. The same tenants must be moving together and must vacate their current home within four weeks of entering the new one.
Renters must be over 18 and pay the $25 fee, plus any difference if the new property requires a higher bond.
The transfer cannot be used if a bond claim is in progress or if members of a share house are moving to different homes. Landlords and agents will continue using the existing bond-lodgement and claims processes.