How to Apply for a Bond Loan in VIC

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How do Bond Loans work in Victoria?

In most cases, a bond cannot be more than one month’s rent. 

A rental provider can only ask for a higher bond when either: 

  • the weekly rent for the property is more than $900 
  • VCAT has set a higher bond for the property. They might do this because of the character of the property or the quality of the fittings and furniture. 

There is no rule about maximum bond in these cases. 

Before March 2020, rental providers could also ask for a higher bond if they planned to live in a property at the end of the agreement. This does not apply to agreements signed after March 2020. 

There are different rules for people living in rooming houses, caravan parks and residential parks.

Accurate at February 2024 – Source – Victorian Government