National Rental Affordability Scheme
**A message to investors and approved participants**
Approved participants must ensure their actions comply with the National Rental Affordability Regulations 2008 (NRAS Regulations) at all times and in respect of each allocation. A failure to do so may provide the Secretary with grounds to transfer an allocations under Regulation 21A of the NRAS Regulations.
Where an investor has concerns that the approved participant may not be complying with the NRAS Regulations, the investor should contact the department at nras@dss.gov.au. An example of where the approved participant may not be complying with the NRAS Regulations is where an approved participant states to an investor that the investor is in default of any NRAS contractual agreement on the basis of the property manager they have engaged, or the actions of that property manager.
**Information for investors**
The NRAS Regulations were recently amended to include a power for the Secretary to transfer the allocation attached to an investor’s rental dwelling to a different approved participant at the request of the investor, if certain grounds exist. It is important to note that these regulatory changes do not extend to interfering in private, contractual arrangements between approved participants and investors. The information sheet below describes the amendments in detail.
Before submitting a request to have the allocation attached to your NRAS rental dwelling transferred to another approved participant, investors should understand the process to request to transfer an NRAS allocation. The link below provides information that investors should be aware of before submitting a request to transfer.
- Process for an investor to request a transfer of an NRAS allocation to another approved participant – Please read BEFORE completing a request to transfer an allocation to another approved participant to familiarise yourself with the process involved.
- Guidelines for completing an investor application to transfer an allocation to another approved participant – Must be used in conjunction with completing an Investor Application to Transfer an Allocation to another Approved Participant.
- Investor Application to Transfer an Allocation to another Approved Participant – Must be completed in conjunction with the Guidelines for Completing an Investor Application to Transfer an Allocation to another Approved Participant.
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.
More information about the Scheme is available on the About NRAS page.
Latest news and events
14 August 2018 – Update to 2017-18 payments processing
| 2017/18 |
Ready for assessment |
Paid |
Completed |
|
|---|---|---|---|---|
|
14 August 2018 |
Number of approved participants |
111 |
107 | 102 |
|
Number of incentives |
34,521 | 30,746 | ||
As at 14 August 2018, 111 approved participants have notified the Department that their Statements of Compliance (SOCs) are ready for assessment. Of these, 107 approved participants have now been assessed and paid, in total or part, resulting in 30,746 incentives issued (89 per cent) of all SOCs paid.
Important notice regarding processing 2017-18 NRAS Incentive payments
The Department is currently considering approximately 350 transfer requests from investors who are seeking to transfer to another approved participant. In these cases, the 2017-18 NRAS incentive will not be finalised unless the transfer request is resolved and the conditions of allocation have been met for the 2017-18 NRAS year.
In addition, where an approved participant has sought an extension for the lodgement of the 2017-18 Statement of Compliance, and the extension has been approved, the Department will not prioritise the processing of the approved participant’s statements of compliance. Approved participants may seek an extension to 30 September 2018 to lodge their Statement of Compliance.
Investors should discuss the status of the SOC process with respect to their dwelling with their approved participant.
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