Government introduces new Portable Rental Bond Scheme
Teleisha Thomas
June 2026The Victorian government recently announced it will be introducing the country’s first portable scheme from 1 July, 2026.
The Portable Rental Bond Scheme (PRBS) will allow eligible Victorian renters to transfer their existing rental bond to a new property, helping to reduce the financial burden of managing two separate bond payments at the same time.
As part of the scheme, the Victorian Government will act as guarantor for any claims on the bond for the initial property. For example, if a rental provider makes a successful bond claim, the government will pay this on behalf of the renter and will seek to recover that amount as a debt due to the State.
What does this mean for renters?
Renters will benefit from this most recent change by being able to move more freely between properties without being out of pocket.
What does this mean for rental providers?
Rental providers still retain their rights to claim against a bond where there is a valid reason to do so. However, the process surrounding bond claims will become more structured and evidence-based, and as a result, there may be some delays with bond claims.
Property Managers will continue to conduct thorough vacate inspections and assess the property against the ingoing condition report, with thorough documentation and record-keeping more important than ever.
For rental providers, this reinforces the value of engaging an experienced property management agency with robust systems, detailed condition reporting, and strong compliance processes.
At Jellis Craig, we continue to invest in comprehensive entry and exit condition reporting, industry-leading technology, and best-practice property management procedures to help protect our clients' interests and support any future bond claims with clear and reliable evidence.
If you have any questions about the Portable Bond Scheme or how it may affect your investment property, please contact our Property Management team.
We are here to help navigate these changes and ensure your property remains well-protected.
Stay informed about upcoming legislative changes affecting rental properties between now and 2027 by visiting our webpage here.
