The National Rental Affordability Scheme (NRAS) is an Australian Government initiative that aims to encourage medium to large scale investment in affordable housing.
Tasmanians benefit from the Scheme through increased affordable housing that is offered at a rate at least 20 per cent below the current rental market rate.
NRAS is jointly funded by the Australian Government and State/Territory jurisdictions. The Australian Government component is administered by the Commonwealth Department of Families, Housing, Community Services and Indigenous Affairs. The Tasmanian Government component is administered by the Housing Innovations Unit, Housing Tasmania.
Rounds 1 – 4 and Shovel Ready Round
There have been five rounds of NRAS to date with the Tasmanian Government committing nearly $40 million to NRAS with over 1 600 NRAS incentives already approved for Tasmania.
This has resulted in the delivery of 504 homes in Tasmania with a further 1 100 projected for completion by 2016. All of these homes have been jointly funded by the Australian and Tasmanian Governments.
Local Developers and Builders
The Tasmanian Government supports and encourages collaboration between not-for-profit organisations and community housing providers with local developers and builders.
Local developers and builders are encouraged to view NRAS Monthly Performance Reports available on the FaHCSIA website, that detail NRAS approved participants in Tasmania that they may be able to partner with.
Any investors under the scheme should note that the Tasmanian Government only has a direct relationship with recipients. Prospective investors are responsible for seeking their own legal and tax advice before entering into contracts with recipients.
Applying for tenancy
The Tasmanian Government does not manage the allocation of properties in the National Rental Affordability Scheme. Information for prospective tenants, including contact details of Tasmanian NRAS tenancy mangers, can be found on the FaHCSIA website.
Legislation and Regulations
The Commonwealth National Rental Affordability Scheme Act 2008, the National Rental Affordability Scheme (Consequential Amendments) Act 2008 and the National Rental Affordability Scheme Regulations support the Scheme. Organisations applying for the Scheme should refer to the Act and Regulations to ensure compliance.
Housing Innovations Unit - Housing Tasmania
Level 4, 99 Bathurst Street
Hobart, Tasmania 7000
GPO Box 125, Hobart, Tasmania 7001
Phone: (03) 6166 3617