ORANGE renter Gail Copping is happy with the NSW Government’s decision to allow tenants to transfer their existing rental bonds from one lease to another.
Ms Copping says it is an excellent move and she will use social media to inform other tenants in the city about the changes made to the Residential Tenancies Act.
“It’s very stressful if you are on a single income and have to move out of rental accommodation for whatever reason to find six weeks’ rent in a month for the new rental property,” Ms Copping said.
“Many renters with living expenses and electricity are not able to save $1500 to $1800 in four weeks.”
Ms Copping said it takes a lot of stress off the renters if their lease is up or the house is sold and they have to move out in four weeks.
It is nearly impossible to find a large amount of money in a short period of timeGail Copping
“It is nearly impossible to find a large amount of money in a short period of time,” she said.
“The decision to transfer rental bonds also gives renters flexibility. They can look for places closer to their new workplace if they don’t have transport.”
The NSW Government expects the rental bond rollover process to save $35 million over 10 years.
Ms Copping, who had a housing inspection on Thursday, said she asked her real estate agent about the changes.
“She said when you look at another property and put in a 21-day notice, the other real estate agent will call them and ask what sort of tenant you are and if there is any issue,” she said.
“If the tenant has kept the property well and paid the rent on time, the bond will be transferred.
“That’s excellent and I am happy with that.”
Ms Copping said most private renters pay rent on time and maintain properties as if it is their own house.
“Now with these sensible changes to the Tenant Agreement Act, we can make the place feel like a home,” she said.
Ray White Orange principal, Libby Seaman, said not being able to transfer bonds had been a problem for many people.
“We used to do [transferring of bonds] some years ago, and stopped because of legal issues and damaged properties,” Ms Seaman said.
“Now this has come again and it applies only when a tenant leaves with no outstanding dues.
“The changes will make it easier for tenants to relocate.”