Developers
The current priority is for sites in NSW, VIC and SA. For more information please click here.
Developers Role
There are three potential ways for developers to get involved:
- They can build properties and hold them for 10 years, receiving the income stream from the rents and incentives as well as benefiting from capital gain.
- They can build properties and work with the Consortium to find third party investors to take on longer term ownership.
- In some locations there are opportunities to work with the Consortium to build properties on land owned by non-profit or charitable partners or other landowners, particularly in a joint venture arrangement.
If you are a developer who is choosing to hold the property, please refer to the owners/investors page for further information about requirements, the incentive and tenant eligibility.
Australia’s need for Affordable Housing
The
Commonwealth have identified that 1.5 million households are eligible
for
NRAS housing.
Whilst
the Consortium
is interested in sourcing properties anywhere in Australia, where we
can
evidence a demand for affordable housing, the Consortium will apply
four tests
to proposals from developers:
1. Is
it an area of housing need? (particularly in reference to State and
Territory Government requirements)
2. Will
the stock meet tenant demand for the right kind of affordable
housing in the right location?
3. Can
it meet the NRAS Mandatory Criteria?
4. Is
it commercially viable and attractive to investors?
Approved dwellings under the Scheme may be houses, apartments, flats, units or townhouses.
A dwelling may also provide multiple tenancies (subsidiary dwellings) which involve sharing of some amenities such as recreation areas. This could include accommodation for students or people with disabilities, for example; however, only one National Rental Incentive would be available for a dwelling of this type.
For the purposes of the National Rental Affordability Scheme, a dwelling must:
- not have been lived in as a residence; or
- not have been lived in as a residence since having been made fit for occupancy where otherwise the dwelling was recognised as being uninhabitable; or
- if it has been converted to create additional residences, then a part of the dwelling or building that is capable of being lived in as a separate residence must not have been lived in as a separate residence.
The approved participant must ensure that each approved dwelling, and the management of it, complies at all times during the year with the landlord, tenancy, building, health and safety laws of the State or Territory and Local Government areas in which the dwelling is located.
Rehabilitated dwellings will be considered under the Scheme where rehabilitation leads to a net increase in the number of dwellings. Refurbishment of existing rental dwellings is NOT considered sufficient.
Application Process
To express your interest in NRAS, please complete an Expression of Interest Form and lodge it with the Consortium. To find out more about NRAS or Affordable Housing please go to the About NRAS or the About Affordable Housing page.
