PROPDEVELOPERMember@propdeveloperJoin Date: 2009Post Count: 5
I believe there is a scheme by the dept of housing nsw where an investor can build property for the dept of housing to lease from you for a 10 year period. Does anyone have any details and if they think it would be a good investmentdtrumpParticipant@dtrumpJoin Date: 2010Post Count: 50
Are you referring to the NRAS? National Rental Affordability Scheme?
It works by you put your property into the letting pool in the NRAS and you charge 80% of market rent, but they give you approx $9k in tax credits. Dont quote me on the exact figures but it works something along those lines. The NRAS takes care of all the tennant management (i think they pay the first week of a vacancy, etc). The tennants are not necessary 'housing commision' tennants, as i beleive the max income is household $150k for a tennant to qualify.
I understand the property needs to be 'NRAS Certified' in order to do this, probably based on areas where rental is not affordable.
If thats what your thinking of, do a google for NRAS.
Cheersmahdeen18Participant@mahdeen18Join Date: 2004Post Count: 13
No it’s not the NRAS. The current owners have a lease with the Dept. of Housing who then sublet to tenants for whom they subsidise the rent. The tenants are all in need of housing. I am in the process of talking to the Department to gwt an understanding of their position and possibly what their intentions are for continuing to rent the property in the future.
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