South Australian tenants have saved up to a whopping $40 million since the bond threshold was raised in April 2023 by the Malinauskas Labor Government.

As part of a suite of reforms designed to address rental affordability, the Malinauskas Government raised the bond threshold from $250 to $800 - meaning that for most properties only a four-week bond is now required.

Previously, landlords could claim a bond worth up to six weeks’ rent where the weekly rent was $250 or greater.

Since 1 April 2023, there have been approximately 46,000 bonds lodged with Business and Consumer Affairs valued between $250 and $800.

Thanks to our reforms, they could only be charged a four-week bond – if every tenant were charged a six-week bond, this would’ve taken approximately an extra $40 million (approximately $870 per bond) out of renters’ pockets since the reforms came into effect.

The Malinauskas Government is committed to addressing rental affordability and since the reforms to the bond threshold were made, we have made the most comprehensive reforms to South Australia’s rental laws in a generation, which will come into effect this year.

This includes:

• Prescribed grounds to terminate or not renew a tenancy.
• Extending the notice period to end a tenancy from 28 days to 60 days.
• Allowing tenants to have pets in rental homes with reasonable conditions.
• Ensuring rental properties comply with minimum housing standards.
• Providing additional support for victims of domestic violence.

Quotes

Attributable to Andrea Michaels

The Malinauskas Government is committed to addressing rental affordability in South Australia.

South Australian tenants have saved up to an incredible $40 million since our bond threshold reform came into effect last year.

The bond threshold had not changed in 20 years and it was completely out of step with rental prices today.

We fixed it to help make renting more affordable for South Australians and put money back in the pockets of tenants.