Applicant is to sub-lease a property Where an applicant is sub-leasing a property, the applicant can be assessed for bond where the following conditions are met: written permission received from the original landlord giving approval to sublet the property a copy of the tenancy agreement between the original tenant and the applicant (sub-tenant) is provided the bond is to be lodged with the RTBA the department has not already provided a bond to the original tenant where the property is a commercial property, a copy of the commercial lease which indicates that the lessee has permission to sub-let the property. Note: This policy does not apply to properties whose rents are subsidised by either the department or an educational institution. Commercial properties RTA 1997 (s. 7) does not govern commercial leases for rental properties such as a retail outlet or factory. Therefore tenants moving into these properties are ineligible to receive bond assistance. Properties managed by community groups Community housing organisations, including religious organisations, manage properties owned by the department and/or already receive department financial assistance for properties they manage, should not receive bonds. For this reason, tenants moving into these properties are not eligible to receive bond assistance. However where the property is not owned by the department and the community group does not already receive department financial assistance for the property, then the tenant is eligible to apply for bond assistance where: a tenancy agreement has been signed the landlord requires bond the bond will be lodged with the RTBA. Registered housing providers (e.g. housing associations) < http://www.housingregistrar.vic.gov.au>. The Victorian Government’s Growth Strategy, More Homes Together’ and similar funding ‘Building initiatives aim to increase the provision of affordable housing options through partnership with Registered Housing Providers. These agencies operate within Department’s Housing Provider Framework which specifies eligibility criteria and housing outcomes. They are required to set rents which are affordable for tenants while maintaining their own financial viability. Tenants entering properties owned or managed by Registered Housing Providers are eligible for Rent Assistance and the Bond Loan Scheme, subject to meeting all other Bond Loan Scheme eligibility criteria, including the repayment of outstanding charges and an existing or previous bond loan. Note that exemptions apply for repayment of an existing bond where: the applicant provides written advice from current landlord/agent that the bond will be returned in full to the department on the termination of their current tenancy
Applicant is to sub-lease a property Where an applicant is sub-leasing a property, the applicant can be assessed for bond where the following conditions are met: written permission received from the original landlord giving approval to sublet the property a copy of the tenancy agreement between the original tenant and the applicant (sub-tenant) is provided the bond is to be lodged with the RTBA the department has not already provided a bond to the original tenant where the property is a commercial property, a copy of the commercial lease which indicates that the lessee has permission to sub-let the property. Note: This policy does not apply to properties whose rents are subsidised by either the department or an educational institution. Commercial properties RTA 1997 (s. 7) does not govern commercial leases for rental properties such as a retail outlet or factory. Therefore tenants moving into these properties are ineligible to receive bond assistance. Properties managed by community groups Community housing organisations, including religious organisations, manage properties owned by the department and/or already receive department financial assistance for properties they manage, should not receive bonds. For this reason, tenants moving into these properties are not eligible to receive bond assistance. However where the property is not owned by the department and the community group does not already receive department financial assistance for the property, then the tenant is eligible to apply for bond assistance where: a tenancy agreement has been signed the landlord requires bond the bond will be lodged with the RTBA. Registered housing providers (e.g. housing associations) < http://www.housingregistrar.vic.gov.au>. The Victorian Government’s Growth Strategy, ‘Building More Homes Together’ and similar funding initiatives aim to increase the provision of affordable housing options through partnership with Registered Housing Providers. These agencies operate within Department’s Housing Provider Framework which specifies eligibility criteria and housing outcomes. They are required to set rents which are affordable for tenants while maintaining their own financial viability. Tenants entering properties owned or managed by Registered Housing Providers are eligible for Rent Assistance and the Bond Loan Scheme, subject to meeting all other Bond Loan Scheme eligibility criteria, including the repayment of outstanding charges and an existing or previous bond loan. Note that exemptions apply for repayment of an existing bond where: the applicant provides written advice from current landlord/agent that the bond will be returned in full to the department on the termination of their current tenancy
Bond-loan-scheme-policy-and-procedures.docx