The National Rent Affordability Scheme (NRAS) is an Australian Government initiative delivered in partnership with the states and territories, to stimulate the supply of new, affordable dwellings.
The initiative provides investors with an incentive to provide approved dwellings for rental to eligible low and moderate income households at a rate that is at least 20% below the prevailing market rate. Coast2Bay, as a not-for-profit organisation, will apply a discount of 25.1% below the prevailing market rent.
How NRAS works
Under NRAS, the Australian and Queensland Governments are providing incentives to:
- increase the supply of affordable rental dwellings;
- reduce rental costs for low to moderate income households; and
- encourage large scale investment and innovative delivery of affordable housing.
The annual incentive currently features two key elements:
- A Commonwealth government incentive of $8,286.03 per dwelling per year as a cash tax offset certificate; and
- A State or Territory government incentive of $2762.01 per dwelling per year in direct or in kind financial support.
Rigorous selection criteria has been applied by the Australian Government to the location, design and amenity of NRAS dwellings, which must also comply with all State, Territory and local government planning and building codes and requirements
Please click on the link below to view details of NRAS properties currently for sale where Coast2Bay are the Approved Participant under the National Rental Affordability Scheme.
Please contact Lindell Gittoes on 07 5451 2912 if you would like more details.