National Rental Affordability Scheme
The National Rental Affordability Scheme (NRAS) is a joint initiative between the Commonwealth, States and Territories. The Australian Government component is administered by the Commonwealth Department of Families, Housing, Community Services and Indigenous Affairs. The Victorian Government component is administered by the Department of Human Services Victoria.
The NRAS aims to increase the supply of affordable rental dwellings by up to 50,000 nationally by June 2016 and to reduce the cost of rental housing for low and moderate income individuals and families across Australia.
Under NRAS, owners of rental properties are provided an annual subsidy for up to 10 years in return for renting their property at a discount of at least 20 per cent on the normal rental. There are a number of conditions that need to be satisfied and these are outlined on the Commonwealth's website.
Applying for tenancy
The Department of Human Services Victoria does not manage the allocation of properties in the NRAS. Prospective tenants need to contact the tenancy manager of the appropriate agency to register their interest.
Legislation and Regulations
The Commonwealth National Rental Affordability Scheme Act 2008, the National Rental Affordability Scheme (Consequential Amendments) Act 2008 and the National Rental Affordability Scheme Regulations support the Scheme. Organisations considering applying for the Scheme should refer to the Act and Regulations to ensure compliance.
Tel: (03) 9096 9919 or Commonwealth: 1800 334 505