The NRAS initiative: building 50,000 rental dwellings by 2016

The National Rental Affordability Scheme was a government initiative started in 2008 to provide incentives to individuals or business entities that build dwellings and rent them at least 20% lower than the market rate value. This in turn gives people with low income the ability to rent an affordable place and promotes affordable dwellings for Australian families.

Jennifer Duke’s article on the Property Observer outlines the common misconceptions about the NRAS and the NRAS incentive. Included are interesting information regarding NRAS investor eligibility, rent dwelling requirements and operating principles.

The Department of Families, Housing, Community Services and Indigenous Affairs has encouraged individuals, businesses and organizations to apply for the NRAS incentive as its goal is to have 50,000 homes by June 30, 2016.

You can read more about this on the Property Observer website.