Making rental bond payments easier for agents and renters
With a quick one-off set-up process, and same or next day settlement directly to your trust account.
What is RentBond?
RentBond is a bond payment facility for tenants allowing them to repay their rental bond over 6 or 12 easy monthly instalments.
set up process
Zero paper work
form for tenants
A quick one-time set up
Once you’re set up you won't need to do a thing!
Tenancy bonds will be paid directly to your trust account.
How RentBond works
Once accepted for a rental property, the tenant is approved for RentBond at Rent.com.au
The tenant accepts their RentBond contract
We remit the bond electronically the same business day into your trust account
We manage the tenant's instalments until the bond has been repaid in full
Let your prospective tenants know about RentBond on social media or download and print off this brochure to hand out.
RentBond is a way for tenants to pay their rental bond via a payment plan that allows them to spread the cost over 6 or 12 monthly instalments.
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.
For an agent:
RentBond only requires involvement from an agent or property manager to enable us to process bond payments to your trust account. Simply enter your office and trust account details into the secure form here at Rent.com.au and we'll take care of the rest. Any time a tenant wishes to use RentBond, they will apply directly through the RentBond portal and we'll arrange for the payment. You will then be sent notification that the bond has been paid.
For a renter:
There are three easy steps for a renter to use RentBond:
Step 1: Once accepted for a rental property, the tenant needs to apply for RentBond at www.rent.com.au/rentbond
Step 2: They will be asked to complete the application online with details including the address, the property manager's details, and the bond amount.
Step 3: If approved, they will be issued with a RentBond agreement. Once they have accepted the agreement and provided payment details the bond will be paid to the relevant trust account.
Remember, there's no involvement by the property manager during this process, other than the one-off set up of bank account details.
There are no fees to process RentBond for agents.
There is no limit to the amount the tenant can apply for, but the maximum RentBond amount must match the bond amount.
No, RentBond can only be paid as a direct transfer to your nominated bank account.
This is not a problem for you. Principal Finance is responsible for following up any missed payments, and your agency will not be involved. The bond lodged will also not be touched. This is a matter between Principal Finance and the tenant only.
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.
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.