As of July 2026 Victorian renters have the option to transfer their bond directly from one rental property to another under the new Portable Rental Bond Scheme (PBRS).
This scheme removes the longstanding problem renters face of having to pay a second bond while waiting for the refund of the first, which can often take weeks and stretch them to the brink financially.
However, for agency principals buying or selling a rent roll, the PBRS raises a practical question around how bond administration and claims sit once a portfolio changes hands. Here’s some information about the new scheme and why it needs to be considered during a rent roll exchange:
How the Portable Rental Bond Scheme works
A renter with a bond held by the Residential Tenancies Bond Authority (RTBA) can decide to transfer (port) it to a new property rather than pay a fresh bond in full. If the new bond is higher than the previous one, they pay the difference.
Once a bond is ported, the State guarantees any claim made against the bond for the property they have just vacated.
If a claim is later awarded to the owner of the initial property, the State pays it, and the renter owes the debt back to the State rather than to any property owner or real estate agency, usually with an eight-week payment timeline.
The scheme is optional and includes a $25 fee. Renters can still pay a bond directly to the RTBA or upfront to their rental provider or agent if they prefer not to participate.
To be eligible, the existing bond must be unclaimed, held by the RTBA, and free of any suspension or pending transaction. The same renters must appear on both the old and new bonds, both properties must be in Victoria, and every renter listed must agree to the scheme's terms and conditions.
The PBRS scheme isn’t available to flatmates who are moving to separate properties, if the bond is funded by a Homes Victoria loan or if the renter owes money to the Victorian Government for a previous bond transfer.
What stays the same for agents
The core bond process is unchanged. Rental providers still lodge bonds with the RBTA the same way, with the important requirement of selecting the Renter Pay option at lodgment.
Property managers should ask renters whether they intend to pay the RTBA directly or through the rental provider, since direct payment to the RTBA is required to be eligible for the PBRS.
The claims process also remains consistent with any other bond, though the claim receipt and review summary may look slightly different depending on how much of the bond has been ported and what balance remains.
Where a managed bond has been ported, the managing agent receives a notification confirming the bond is now under government guarantee, with the agent's interest in the bond remaining fully protected.
Why the PBRS matters in a rent roll sale
The new bond transfer scheme introduces a point worth confirming during due diligence on any transaction.
Bonds do not automatically follow the rent roll in the same way management fee income does, so buyers need clarity on which agent will administer a bond claim where a tenancy has moved under different management, and whether any bonds within the portfolio have already been ported under the scheme.
As part of due diligence, buyers should also check whether the vendor’s property managers have correctly selected Renter Pay at lodgment across the portfolio, since this determines scheme eligibility going forward.
A vendor who can demonstrate accurate, up to date bond records, including which renters have opted into the scheme, presents a cleaner handover and reduces the risk of confusion around claims in the months following settlement.
Looking ahead
The Portable Rental Bond Scheme adds a layer of detail for agencies to track, alongside the wider set of compliance obligations already reshaping property management in Victoria.
For rent roll purchasers, understanding exactly how a vendor has administered bonds, and confirming responsibility for any live claims at the point of transfer, is now a sensible addition to standard due diligence.
For further detail, rental providers and agents can refer to consumer.vic.gov.au or vic.gov.au/portable-bonds.
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From July, renters can transfer (port) an existing bond held by the RTBA to a new Victorian property instead of paying a fresh bond in full, paying only any difference plus a $25 fee. Once ported, the State guarantees any claim against the old property's bond and recovers any owed amount from the renter directly.
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The core lodgment and claims process is unchanged. Rental providers still lodge bonds with the RTBA, but property managers must select the Renter Pay option at lodgment for scheme eligibility. Where a managed bond is ported, the agent receives a notification confirming government guarantee, with their interest in the bond remaining fully protected.
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Bonds don't automatically follow the rent roll like management fee income does, so buyers need clarity on which agent administers claims, where tenancies have moved, and which bonds have already been ported. Due diligence should confirm the vendor's property managers have correctly selected Renter Pay at lodgment, as this determines ongoing scheme eligibility.