Have You Heard Of The NRAS?
The NRAS is the National rental Affordability Scheme which has been set up by the Government to encourage new affordable rental properties.
The Federal and State governments are offering an $8672-a-year incentive (in 2009) for 10 years to investors who lease their property to eligible low and moderate income households at 20% below market rates. The incentive can be a payment or taken as a refundable tax offset and another benefit is that it goes up each year depending on CPI. In 2008 the scheme started at $8000 per rental.
The idea is that private investors join consortiums and get involved in larger-scale developments.
This scheme shows the government’s intention to maintain interest in the housing industry.
The NRAS has a goal of increasing the supply of new affordable rental housing by 50,000 dwellings across Australia by 2012 and a further 50,000 depending on demand.
For more information on this strategy of investing go to www.housing.qld.au and click on ‘affordable housing strategies’ or www.fahcsia.gov.au/sa and click on ‘housing and homelessness’.
Filed Under: Property Investment • Property News
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