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 be delivered in the Scheme and will continue to be rented for up to 10 years provided they continue to meet eligibility requirements. There are no further application rounds planned for NRAS.

There are 133 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

1 August 2017 – Update to 2016-17 payments processing

2016-2017

Ready for assessment

Paid

Completed

Aug 17

Number of approved participants

110

105

72

Number of incentives

32,574 28,316

 

As at 1 August 2017, the Department had received notification from 110 approved participants stating that all of their Statements of Compliance are ready for assessment. Of these 110, 105 approved participants have now been assessed and paid, in total or part, resulting in 28,316 incentives issued (87% paid). There are 72 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 the Statement of Compliance process with respect to their dwelling with their approved participant.

28 July 2017 – The NRAS Regulator Performance Framework Annual Self-Assessment Report 2015-2016

The Australian Government Regulator Performance Framework was developed to encourage regulators to undertake their functions with the minimum impact necessary to achieve regulatory objectives.

The National Rental Affordability Scheme (NRAS) Regulator Performance Framework (NRAS and the Regulatory Performance Framework) was introduced in July 2015 and outlines key measures against six key performance areas in accordance with the Regulator Performance Framework.

The National Rental Affordability Scheme Regulator Performance Framework Annual Self-Assessment Report 2015-2016 outlines performance against these measures for the 2015-16 financial year and highlights areas where progress has been made against the performance indicators, as well as areas where further work is required.

14 July 2017 – Amendments to the NRAS Regulations

The NRAS Regulations have been amended to address provisions that result in disproportionate penalties for non-compliance with certain conditions, the consequences of which are contrary to the intent of the Scheme. The amendments represent the first stage in a staged approach to amending the NRAS legislative framework to provide for the efficient administration of the Scheme until it ceases operation in 2026-27.

The first amendment introduces greater flexibility around issuing proportional incentives for dwellings with vacancy periods across two NRAS years. This amendment will come into effect as of 15 July 2017, and will apply retrospectively as of the NRAS year that commenced on 1 May 2016. For more information, please see the information sheet Amendments to NRAS Regulations – Vacancy Periods.

The second amendment gives the Secretary the discretion to amend the conditions of a reservation in relation to the size of (or number of bedrooms in) a dwelling after a provisional allocation has been made. This amendment will come into effect as of 15 July 2017, and will apply in relation to reservations of allocation that were made before 15 July 2017. For more information, please see the information sheet Amendments to NRAS Regulations – Bedroom Size.

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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