Renters Bank $1 Million Worth Of Portable Bonds

Renters have backed Labor’s Portable Rental Bond Scheme, collectively banking more than $1 million in bonds since the scheme went live on 1 July. The scheme allows renters to transfer their bond straight to a new rental. It means they don’t have to put for a second bond while waiting for a refund on the first.

An average renter saves more than $2,500 by porting their bond rather than paying twice. The scheme is the latest of more than 150 renters’ rights reforms delivered by Labor, including bans on rental bidding and no-fault evictions, minimum rental standards and standard application forms. Jess Wilson's Liberals opposed these reforms in Parliament – her brutal $40 billion cuts plan will decimate Consumer Affairs Victoria and severely reduce the regulator’s ability to protect renters through initiatives like this.

Only Labor has new solutions to make renting easier and more affordable, because only Labor cares about renters. To access the Portable Rental Bonds Scheme, visit vic.gov.au/portable-bonds Quotes attributable to Minister for Renters Paul Edbrooke "This is a practical reform that is making life easier and more affordable for renters." "We built this scheme so no renter has to choose between paying a new bond and covering next month's rent." Quote attributable to Parliamentary Secretary for Renters Kat Theophanous "Every dollar ported through this scheme is a dollar renters don't have to find twice while moving house." 260624 - Renters Bank $1 Million Worth Of Portable Bonds.pdf PDF 296.46 KB (opens in a new window)