The Victorian Government has introduced a Portable Rental Bond Scheme aimed at reducing the upfront financial pressure on renters moving between properties.
From today, tenants will be able to transfer their existing bond to a new rental through the residential tenancies bonds system, removing the need to pay two bonds at once while waiting for refunds from a previous lease. Officials say the change is designed to prevent renters from being temporarily out of pocket during moves.
The average renter is expected to save more than $2,500 by avoiding duplicate bond payments, with a $25 administrative fee applying to the transfer process.
Minister for Renters Paul Edbrooke said the reform addresses a long-standing issue for people moving homes. He said the change is intended to reduce financial strain during tenancy transitions and improve fairness in the rental system.
Parliamentary Secretary for Renters Kat Theophanous said the scheme will make moving between properties more affordable by removing the need to secure additional bond funds upfront.
The initiative forms part of more than 150 rental reforms introduced under the current government, including changes to rental bidding practices, no-fault evictions, minimum standards for rental properties and standardised application forms.
New legislation recently introduced to Parliament would also cap lease-break costs at four weeks’ rent and guarantee tenants access to additional keys or fobs where required.
The Government has pointed to broader debates over housing policy, with reference to opposition positions linked to Jess Wilson and proposed budget cuts affecting public sector roles and services, including consumer protection functions within Consumer Affairs Victoria.
The Opposition has previously voted against elements of the Government’s rental reform agenda, while Labor argues its approach focuses on lowering costs and improving stability for renters.
The scheme is accessible through the state’s bonds system at Portable Rental Bonds Scheme.
Support independent community journalism. Support The Indian Sun.
Follow The Indian Sun on X | Instagram | Facebook
Support Independent Community Journalism
Dear Reader,The Indian Sun exists for one reason: to tell stories that might otherwise go unheard.
We report on local councils, state politics, small businesses and cultural festivals. We focus on the Indian diaspora and the wider multicultural community with care, balance and accountability. We publish in print and online, send regular newsletters and produce video content. We also run media training programs to help community organisations share their own stories.
We operate independently.
Community journalism does not have the backing of large media corporations. Advertising revenue fluctuates. Platform algorithms change. Costs continue to rise. Yet the need for credible, grounded reporting in a multicultural Australia has never been greater.
When you support The Indian Sun, you support:
• Independent reporting on issues affecting migrant communities
• Coverage of local and state decisions that shape daily life
• A platform for small businesses and community groups
• Media training that builds skills within the community
• Journalism accountable to readers
We cannot cover everything, but we work to cover what matters.
If you value thoughtful reporting that reflects Australia’s diversity, we invite you to contribute. Every donation helps us maintain the quality and consistency of our work.
Please consider making a contribution today.
Thank you for your support.
The Indian Sun Team
