Bond Loan Scheme Manual

The purpose of this manual is to outline the processes by which the Office of Housing manages the Bond Loan Scheme.

The OOH Bond Loan Scheme aims to assist low income people who are capable of finding accommodation in the private rental market, but have difficulty meeting the up front costs associated with accessing private rental accommodation. The policy ensures that assistance is provided to households in the private rental market who have no other financial options.

To be eligible for the OOH's Bond Loan Scheme, a client is required to:

• Meet income and asset limits,
• Not own or part-own residential property, except in specific circumstances,
• Have Australian permanent residency status,
• Repay all outstanding OOH charges, from previous bond loans or public housing tenancies, with exceptions, and
• Ensure that the rent on the property cannot exceed 55% of the household's income.

The Asset limits are based on the estimated cost of securing appropriately-sized housing in the private rental market, including the bond, one month's rent in advance (in the bottom quarter of the market), removalist and utility connection charges.

The weekly rent charged for the property cannot exceed 55% of each applicant's total gross weekly income (for a group household), and the household's income (for a couple). All incomes, including the maximum Rent Assistance from Centrelink, is included in this 55% of income-rent ratio calculation. The amount of the bond loan provided by the OOH is based on the size of the property. 

   Bond Loan Scheme Policy and Procedures (PDF Size 562KB, Pages 66)
 Bond Loan Scheme Policy and Procedures (Word Size 689KB, Pages 64)