|
The National Rental Affordability Scheme has been established by the Australian Government, following on from a 2007 election commitment. The aim of the Scheme is to provide incentives for the construction of 50,000 new affordable rental dwellings by 2012. If the Scheme is successful and market demand is strong, the Government may allocate an additional 50,000 incentives from 2012-2017.
The Scheme provides a minimum incentive of $8000 per year to investors over a 10 year period for each dwelling that is rented out at 20 per cent below market rent to eligible low and moderate income tenants.
Community housing organisations can become involved in the Scheme in a range of different capacities. They may be contracted by investors to provide tenancy and property management services for NRAS-funded dwellings, team up with other partners in joint venture or consortia arrangements to construct and manage new dwellings, or apply for the NRAS to help construct and manage dwellings themselves.
It is envisaged that community housing organisations that are able to invest or leverage their own funds into NRAS-funded projects, especially if this is in combination with other grants or assistance, will add to their own asset base, as well as increasing the amount of stock owned and managed by not-for-profit housing providers in Australia.
CHFA has been funded as a National Partnership Facilitator in the NRAS. We are working to increase the pool of potential NRAS applicants by facilitating contacts between interested housing providers and investors. In addition to this role, CHFA will provide ongoing support and information to community housing organisations wishing to participate in the Scheme, both as a direct point of contact and by working with State and Territory peak community housing bodies.
|
