5 Facts about the NRAS and Why We Need to Bring it Back!

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(Image: ocbuyshouses.com)

FACT 1: WHAT IS IT?

The National Rental Affordability Scheme (NRAS) was a partnership between the Australian Government and all the states and territories to invest in houses to create affordable rental houses for the Australian renting market.

FACT 2: The National Rental Affordability Scheme (NRAS) is an incentive provided to housing providers and tenants to create and generate affordable rental properties at least 20 per cent below the current market rates.

This incentive carries two key elements including:

  1. an Australian Government incentive per dwelling per year as a tax offset or direct payment
  2. State or Territory governments may offer approved participants a contribution per dwelling per year in direct or in-kind financial support

FACT 3: THE AIM is to support low to moderate income Australians who struggle to pay market rental rates as well as providing the Australian market with more affordable and appropriate rental housing.

FACT 4: The National Rental Affordability Scheme (NRAS) acts as a commercial investment option for approved participants WHILE AT THE SAME TIME increases the supply of affordable rental properties in Australia (WIN-WIN SITUATION RIGHT?)

FACT 5: The National Rental Affordability Scheme (NRAS) was announced to be REMOVED by the Australian Government in 2014, meaning that the Budget NO LONGER provides GOVERNMENTAL FUNDING for affordable homes.

So what does that mean for you? You no longer have access to affordable houses because the Government no longer supports the idea of THIS GREAT INCENTIVE! If it provided the general public with such great benefits, why remove it? Leave your thoughts down below!!!

 

Want to know more about the National Rental Affordability Scheme? Check out this YouTube Video!!!

 

Information Sourced From:

About the National Rental Affordability Scheme (NRAS)

National Rental Affordability Scheme

National Rental Affordability Scheme – Frequently asked questions

 

– Roof Us First

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