transfer the bond

“I’m moving to a new house soon. Can I transfer the bond from one property to another property?” – Peta

Is it possible to transfer your rental bond?

We asked managing director at Real Property Manager, John Gilmovich for his advice:

“Most state Rental Bond Boards do accept transfers of bonds between properties or a new address and their landlords/managing agents,” he said.

“However most agents/landlords do not see this as any benefit to them and as such normally decline this practice before you vacate the property as it imposes a risk to them of making a claim on the bond e.g. poor cleaning or damage.”

How a transfer could work (Example scenario: Queensland)
In Queensland, if a tenant moves to another rental property, the bond can be transferred to their new rental address if the property manager/owner agrees, and there’s no change to the bond amount, and property manager/owner. Once the property manager/owner agrees to the transfer, the tenant will need to complete the Change of rental property (form 3). The RTA will then continue to hold the bond instead of paying it back at the end of the tenancy. 

John said that at the same time, your new agent or landlord will want their rental bond paid before you take occupancy at the new address and will not give you occupancy until such time you have paid down the bond and your rent in advance.

“Both management agents or landlords may feel that they have a lack of or no control over your rental bond transfer and it is for this reason that they generally decline a transfer,” he said.

John said there may also be a difference in the bond value, which may require a top-up or possibly a refund of a portion of the bond that doesn’t equal to the total value of the new rent.

“This also poses more administrative workload,” he said. “In the majority of cases, the new landlord or agent will seek you pay the bond in full rather than rely on a transfer.”

You might also like:
> Rental applications – What happens after you apply?

> Can I apply for a rental without viewing it first?
> How much rent can I afford? Budgeting for a rental property

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John Gilmovich
John Gilmovich
Founder, Director and Senior Property Manager at Real Property Manager | [email protected]

John Gilmovich is the Founder, Director and Senior Property Manager for Real Property Manager Pty Ltd in Five Dock, Sydney. An independent mobile agency with a purpose to provide personalised property management services to the Sydney property investor community, Real Property Manager is powered by a new innovative property management disruptor- Rent360. John has almost three decades of industry experience and is highly skilled in rental property management and property investing.