Rentstart provides financial assistance to eligible clients to help them set up or maintain a tenancy in the private rental market. There are 5 types of Rentstart assistance:
- Rentstart Bond Loan – An interest free loan where you can apply for up to 75% of a rental bond. In exceptional circumstances, Housing NSW may provide a loan of up to 100% of the bond. Your repayment plan is based on how much of your income is spent on rent.
- Advance Rent – A grant that's provided to clients who already have a Rentstart Bond Loan, but are finding it difficult to meet the set-up costs of their tenancy. It's also available to help clients who are moving into caravan parks, or registered boarding houses and hostels where a deposit is needed, rather than a bond having to be lodged with the Bond Board. In this instance up to 100% of the key money, or security bond, or other deposit is provided. Advance Rent is a grant and doesn't need to be repaid.
- Rentstart Move – This assistance is for those who want to leave public housing, or who are no longer eligible for it and have to vacate their property. If a client meets the Rentstart Move criteria, Housing NSW will provide a bond loan for up to 75% of a private rental bond.
- Tenancy Assistance – This is a once only payment in a 12-month period, to help clients who've fallen into arrears with their rent and/or water bill. The maximum amount of assistance is limited to the equivalent of 4 weeks rent. It's not provided as a loan, and doesn't have to be repaid.
- Temporary Accommodation – This is a short term measure to provide limited accommodation in low cost motels or caravan parks for clients who are homeless. Usually the assistance is limited to a few days until clients can make their own more permanent arrangements.
If you think you may be eligible for Rentstart assistance, you can check the eligibility criteria, online.