Introduction
If you are finding it financially difficult to get into the private rental market you may be eligible to apply for a Rentstart Bond Loan. The interest-free loan can be up to 100% of your rental bond.
If no claim is made by the landlord or real estate agent at the end of the tenancy the money you have repaid to Homes NSW is returned to you.
You can apply for a Rentstart Bond Loan online or by using a PDF form.
Rent Choice
If you have been approved for Rent Choice you:
- may be exempt from meeting the income eligibility and rental affordability criteria for a Rentstart Bond Loan
- are eligible to receive 100% of the Rentstart Bond Loan.
How it works
Rent and loan amounts
The rent for the rental property must not be more than 50% of your household total gross (before tax) weekly income.
The loan amount cannot be less than 25% (or 1 week) of the total bond amount.
Payment of the bond
If your application for a Rentstart Bond Loan is approved Homes NSW will send a completed Rental Bond Lodgement form to your landlord or agent.
Your landlord or agent must sign the form and send it to the Rental Bond Board.
When the completed and signed form is lodged the bond amount to be provided by Homes NSW will be paid to the Rental Bond Board.
Loan repayments
You will agree a payment plan with Homes NSW:
- based on how much of your income is spent on rent
- for a 12 or 18-month period
- requiring fortnightly (every 2 weeks) payments by you to Homes NSW.
In exceptional circumstances a 36-month payment plan may be offered.
Rentstart Bond Loan affordability estimator
You can check your rental affordability based on the Rentstart Bond Loan criteria with the Rentstart Bond Loan affordability estimator.
The results provided are an estimate only based on the information you provide. Your actual affordability and eligibility will be reviewed after you lodge your application.
Eligibility
You must be an Australian citizen or permanent resident in NSW and:
- be aged 18 or over
- be eligible for social housing
- meet the household income and assets eligibility limits
Note: If you are experiencing domestic or family violence the social housing income eligibility requirement will be waived. - have less than $5,000 in cash assets
- not own or part-own property (waivers may apply)
- be approved for the rental property.
What you need
For a detailed description of the documents you may need to apply download the Evidence Requirements Information Sheet – PDF.
Apply online
To apply online you need:
- 2 current proof of identity documents that will be verified electronically such as:
- Australian driver licence
- passport
- Medicare card
- bank statement(s) for the previous 4 weeks
- your proof of income such as pay slips (if applicable)
- proof of assets (if applicable)
- Australian citizenship or permanent residency documents (if applicable)
- an email address for the real estate agent or landlord for the property.
Note: An email will be sent to the agent or landlord with a link to complete the Property Information form.
Apply with a PDF form
To apply using the PDF form you need to:
- complete the PDF form: 'Part A – Application for Rentstart Bond Loan'
- ask the real estate agent or property owner (landlord) to complete the PDF form: 'Part C – Property Information'
- read the terms and conditions: 'Part E – Rentstart Bond Loan Agreement'.
Depending on your situation you may also need one or more of the following:
- if people aged over 18 years will be housed with you: 'Part B – Additional Persons'
- if you are working, a document to be completed by your employer: 'Part D – Income from Employment'
- if you're a Centrelink customer: 'Authority for Bond Loan Deduction'.
How to apply
Online
- Check the eligibility requirements.
- Select the 'Apply online' button.
Note: You can save and resume your application, but if you do not submit it within 14 days, any details you enter will be deleted. - Register to access the online application form.
- Enter all information and upload documents as requested.
- Review and submit.
If you need help completing the online application visit Rentstart Bond Loan online help.
Use the PDF form
- Download the PDF forms you need.
- Gather together:
- all completed forms as required
- your ID documents
- bank statement(s)
- pay slips (if applicable)
- proof of assets (if applicable).
- Send your application documents using the details on 'Part A – Application for Rentstart Bond Loan' form.
Change of name
If you change your name after you start a Rentstart Bond Loan you must advise Homes NSW.
To confirm your change of name with Homes NSW complete the Advice of name change form.
You will need to provide evidence of your name change such as a:
- Deed Poll document
- change of name certificate or
- marriage certificate.
The details of your name change will be recorded by Homes NSW but your Rentstart Bond Loan Agreement does not have to be re-issued.
Contact
More information
Visit the Homes NSW website: