More than $5 million in rental bonds has been transferred through NSW’s Smart Rental Bonds system in the first month since its statewide rollout.
More than 1,800 renting households have used the scheme, which allows eligible renters to move an existing bond from one NSW rental property to another instead of paying a full second bond upfront while waiting for the first to be released.
How Smart Rental Bonds Works
The system operates through Rental Bonds Online.
When a renter moves, they can choose to transfer their existing bond to the new tenancy for a $25 fee rather than paying the entire new bond in cash.
If the new bond is higher, the renter pays the difference. If it is lower, the difference can be returned once any claims on the previous tenancy are resolved.
If the former landlord later makes an agreed or finalised claim, the NSW Government pays that amount to the landlord first and then seeks repayment from the renter.
The model is designed to remove the short-term “double bond” problem without changing a landlord’s ability to make a legitimate claim.
Statewide Rollout Began in September
Smart Rental Bonds was first trialled in Penrith, Parramatta and the Central Coast before being expanded statewide on 16 September 2026.
Almost $1 million had already been transferred during the initial phase before the wider rollout began.
The latest figures show particularly strong use in the Central Coast, while Parramatta, Penrith, Blacktown and Cumberland have also recorded significant bond transfers.
Most Transfers Have Not Involved Claims
According to the latest NSW Government figures, more than 95 per cent of transferred bonds have not had a claim made against them.
Where a claim is confirmed, the government-backed structure means the previous landlord can still receive payment while the renter repays the amount separately.
The scheme is available to eligible renters moving between NSW rental properties, including households moving within the same local area or to another part of the state.
Around 330,000 Renting Households Move Each Year
NSW Government estimates suggest around 330,000 renting households change homes each year, making upfront bond costs a recurring issue for a large part of the rental market.
Smart Rental Bonds is intended to reduce that upfront cash requirement rather than lower the actual value of a rental bond.
The system is now available statewide through Rental Bonds Online for eligible renters.