National Rental Affordability Scheme

On 24 July 2008 the Commonwealth Government launched the National Rental Affordability Scheme (NRAS). Under NRAS an investor who builds new units can receive $6,000 per annum from the Commonwealth Government and $2,000 per annum from the State for a period of 10 years provided they rent their units to eligible households at no more than 80% of the market rent. Both government payments will be indexed by the rental component of the national Consumer Price Index.

 This is an exciting initiative that aims to increase the supply of affordable housing available across the State by providing investors with very attractive returns. The First Round of applications closes on 4 September 2008. Tasmania has prepared information for interested parties and this is available by clicking here.

 If you wish to discuss NRAS further contact the Commonwealth Government on 1800 334 505 or visit the website www.fahcsia.gov.au. Alternatively if you want to discuss specific Tasmanian proposals, please contact Peter White of the Housing Innovations Unit on (03) 62338952 or by email peter.white@dhhs.tas.gov.au.