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Rentbond

The smart way to pay your bond

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What is RentBond?

RentBond is a bond payment facility for tenants allowing you to repay your rental bond over 6 or 12 easy monthly instalments.

How RentBond works

Step 1

Find your new rental and apply for RentBond

Step 2

When approved, accept your contract online and enter your repayment details

Step 3

We pay your full bond the very same business day directly to your property manager

Step 4

That's it! We deduct your monthly instalments until the bond has been repaid in full

Estimate your repayments

Your repayments for
$2000.00 RentBond will be


12 monthly instalments of $180


Total amount payable: $1200.00

View fees & charges

RentBond charges include a fixed interest rate of less than 6% plus a monthly administration fee to cover our costs. The interest rate payable varies depending upon the size of the bond and the term over which the bond is financed. The total cost to you is disclosed in bold on our terms and conditions that are provided with each application. Example: If a bond application for $1,000.00 was to be repaid over 6 months, the total cost to you including administration fees, would be $93.00 which equates to less than 10% of the rental bond. Lower interest rates apply for larger bond amounts.

For more info view FAQs

More details

RentBond funds are paid directly to your agent's trust account and you pay it off monthly via direct debit.

If your agent does not accept electronic transfer of rental bonds to their trust account, RentBond may not be available to you.

We recommend checking with your agent prior to completing your RentBond application.

FAQs

About RentBond
What is RentBond?

RentBond is the smart way to pay your rental bond via a payment plan that allows you to spread the cost of your rental bond over 6 or 12 monthly instalments.

Applying is easy and no credit rating is required. Simply use our easy online application at www.rent.com.au/rentbond. If approved, we will confirm your acceptance and deduct your first instalment immediately. We then provide payment of the bond to your Property Manager.

RentBond is made available by Principal Finance, an independent finance company with a reputation for providing innovative finance solutions across a wide variety of industries for more than 30 years.

How does it work?

Using RentBond is fast and easy.

Step 1: Once accepted for your new rental property, apply for RentBond at www.rent.com.au/rentbond

Step 2: You will be asked to complete your application online with details including the address, the property manager's details, and the bond amount.

Step 3: If approved for RentBond, you will be issued with a RentBond agreement. Once you have accepted the agreement and provided payment details for your RentBond instalments, your bond will be paid to your Property Manager.

Step 4: That's it! We deduct your monthly instalments until the bond has been repaid. Your first instalment is deducted at the time you confirm your acceptance of the contract.

What interest rate is charged?

RentBond charges include a fixed interest rate of less than 6% plus a monthly administration fee to cover our costs. The interest rate payable varies depending upon the size of the bond and the term over which the bond is financed. The total cost to you is disclosed in bold on our terms and conditions that are provided with each application.

Example: If a bond application for $1,000.00 was to be repaid over 6 months, the total cost to you including administration fees, would be $93.00 which equates to less than 10% of the rental bond. Lower interest rates apply for larger bond amounts.

We may charge a reprocessing fee of $15 if we need to reprocess a payment due to a payment default by you, and a cancellation fee of $20 to cover our administrative costs associated with any cancellation of this contract by you.

There is no limit to the amount you can apply for, but your maximum RentBond amount must match your bond amount.

No. If your Property Manager has already received payment from you, you will not be able to use RentBond.

RentBond can be used for any property listed on Rent.com.au by a registered Real Estate Agent. At the moment RentBond can't be used for properties rented through a private landlord, or for properties not listed on Rent.com.au

No. RentBond is only available for the payment of your rental bond, and cannot be used for any other purpose.

No. In order to protect the security of the rental bond payment, the bond will be paid directly to your Property Manager.

Your bond is returnable to you from the Property Manager as per normal. Your RentBond contract is not tied to your lease.

Applying for RentBond
If I apply for RentBond will it show on my credit file?

No. If you apply for RentBond this will not appear on your credit file.

How long does it take to get approved?

Once you've been accepted for a rental property, complete our easy online application and we will immediately confirm your acceptance and deduct your first instalment. We then provide payment of the bond to your Property Manager.

Once your application has been submitted with your new property address, you will be asked to read and accept your contract online and provide repayment details. Your bond will then be processed either the same day or the next business day, paid directly to your Property Manager.

Providing we receive the completed application by 3pm ACST the bond will be paid into your Property Manager's trust account the same business day.

Rent.com.au and Principal Finance's privacy policies apply to all personal information you provide as part of your RentBond application. These policies are available here.

You can contact either Rent.com.au, or Principal Finance. Our contact information is below.

Rent.com.au
1300 736 810
Monday – Friday, 6am – 5pm AEST

Principal Finance
1300 636 333
Monday – Friday, 8am – 5pm ACST

If you're renting a property in NSW, you have the option to pay your bond directly to your agent, or through the Rental Bonds Online (RBO) service provided by NSW Fair Trading. Depending on which option you use, the RentBond process will vary slightly.

Payment directly to your agent
You can request to pay your bond directly to the agent. If the agent agrees, simply complete the RentBond process and we will contact the agent to obtain details to transfer the funds. Your bond will be paid to the agent either the same day, or the next business day.

Payment to Rental Bonds Online
If your agent requires you to use the RBO service:

  • You will receive an email from your agent with a link to the RBO service.
  • Follow the steps on the RBO site until you reach the payment section.
  • Select BPAY as your payment method.
  • A BPAY advice slip will be generated with a Biller Code and Reference number displayed. You will need these numbers for your RentBond application.
  • Complete your RentBond application, and in the field marked BPAY, enter the Biller Code and Reference Number.
  • Follow the prompts to complete the RentBond process.
  • Once your application is approved, we will arrange payment of your bond using the BPAY details you provide.

Please note that while we guarantee same day payment* of your bond, RentBond payments made using BPAY may take up to 2 business days to be acknowledged by Rental Bonds Online.

*Same day payment for applications received and process by 3pm South Australia time each business day.

Rent.com.au and Principal Finance will be closed over the Easter weekend, including Good Friday (14th April) and Easter Monday (18th April). We will re-open on Tuesday 19th April. If your RentBond application is received before 3.30pm AEST on Thursday 13th April, your bond payment will be processed that day. If it is received after this time, it will be processed on the next business day, which is Tuesday the 19th April.

Repayments
How long do I have to repay?

RentBond can be repaid over either 6 or 12 months. If your lease term is less than 12 months, you will need to repay on the 6 month term.

Can I pay my RentBond out early?

Yes. You can payout the outstanding balance inclusive of any fees and charges on any day you wish.

How can I find out the payout figure?

You can contact Principal Finance on 1300 636 333 and request a payout statement.

Contact Principal Finance immediately to discuss the matter on 1300 636 333.

If you dishonour your monthly repayment, a reprocessing fee will be charged and we will attempt to redraw again in 7 days. You will be notified by post if this happens. If you then default on the redraw, another fee is charged and a second notice will be sent to you.

RentBond is a short-term, fixed rate loan provided by our partner Principal Finance Pty Ltd.
Fees, terms and conditions apply. The total cost to you is disclosed in bold on our terms and conditions that are provided with your application.