National Rental Affordability Scheme

Decorative

The National Rental Affordability Scheme (NRAS or the Scheme), which commenced in 2008, aims to increase the supply of new and affordable rental dwellings by providing an annual financial incentive for up to ten years. This incentive is issued to housing providers to provide affordable rental dwellings at least 20 per cent below market rates.

Up to 38,000 NRAS properties will become available for rent by 30 June 2016 and will continue to be rented under the Scheme for up to 10 years provided they continue to meet eligibility requirements. There are no further application rounds planned for NRAS.

There are 137 housing providers, including property developers, not-for-profit organisations and community housing providers, participating in the Scheme throughout Australia. Information for NRAS approved participants is available on the NRAS approved participants and tenancy managers page.

Individual private investors also participate in the Scheme either as part of a joint venture arrangement with an NRAS approved participant, or by purchasing NRAS dwellings from an approved participant. Information for individual investors is available on the NRAS Investors page.

The target group for NRAS is low to moderate income Australians – people who may find it hard to pay market rental rates. Potential and existing NRAS tenants must meet income eligibility criteria and be assessed by the approved participant or the tenancy manager of a particular property, not by the Australian Government. Information for existing and potential NRAS tenants is available on the NRAS Tenants page.

More information about the Scheme is available on the NRAS resources, documents and information page.

Latest news and events

31 October 2016 – Update to 2015-16 payments processing

2015-2016

Ready for assessment

Paid

Completed

Oct 16

Number of approved participants

122

115

90

Number of incentives

31,861

30,693

 

The due date for lodging Statements of Compliance was extended from 30 June 2016 to 15 July 2016 to allow approved participants additional time to lodge their Statements of Compliance. Furthermore, the National Rental Affordability Scheme Regulations 2008 allow approved participants to request that the Secretary extend the due date for their Statements of Compliance to a date no later than 30 September.

As at 31 October 2016, the Department had received notification from 122 approved participants stating that all of their Statements of Compliance are ready for assessment. Of these 122, 115 approved participants have now been assessed and paid, in total or part, resulting in 30,693 incentives issued (96% paid). There are 90 approved participants who have had all their Statements of Compliance fully assessed and paid.

Please note that the Department has been processing and issuing incentives for approved participants based on the date that they advised the Department that they were ready for assessment.

As the Department’s relationship with approved participants relates to their business affairs, investors should discuss the status of their Statement of Compliance process with their approved participant.

4 April 2016

A letter to approved participants regarding 2015-16 payment processing and provision allocations is available on the NRAS approved participants and tenancy managers page.

About NRAS

NRAS Frequently Asked Questions

Contact details

If you have any feedback, concerns or complaints about the administration or delivery of NRAS or actions of NRAS Approved Participants, please contact the NRAS Helpdesk.

Email: nras@dss.gov.au

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