Bond transfer?

I'm signing a contract for a property with tenants already in it. What do I do about the Bond they have already paid? I'm increasing the rent so I'll need a bond based on that rent figure. Do they claim back the existing bond and pay mine or just transfere it with me as the landlord.
 
Not sure about NSW but in WA this is what I do.
1. The lease survives the sale.
2. The bond is the tenant's money and should be held in trust somewhere, either with an agent, an owner or a government department.
3. Complete a bond transfer form noting your new ownership.
4. The agent or owner should issue you a cheque for the bond ,which you then lodge at the appropriate place. If it is with the government, the change is simply noted and you get a record of it.
5. Issue the tenants an invoice for the bond top up with the appropriate notice period to pay (60 days in WA).
6. Do a Bond Variation when you receive the top up, adding it to the existing bond.
 
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