On 1 January 2016 the Department of Fair Trading launched “Rental Bonds Online”.  This is a facility to enable payment of bonds for residentail rental properties online.

Gone are the days of obtaining a cheque, completing a form, posting both to the Department and then some weeks later receiving confirmation of lodgement and a rental bond number.

Now, the new tenant provides the landlord/managing agent with their email address, the landlord starts the online form process, the tenant then logs on, pays the bond to the Department by BPay or credit card, the landlord is notified that the bond is received and then the lease can be signed.

Note though, that a landlord cannot force a tenant to use the Rental Bonds Online procedure.

For more information on how it works go to

www.fairtrading.nsw.gov.au/ftw/About_us/Online_services/Rental_bonds_online/Frequently_asked_questions