The NRAS rental properties are low-cost, housing funded through the Commonwealth Government’s National Rental Affordability Scheme.
Under the scheme, NRAS dwellings are rented at least 20 percent below the market rate and can only be rented to those who meet the NRAS Eligibility Requirements. Therefore applicants will be required to provide evidence of income and confirm that they are eligible.
Before applying, please ensure that you are eligible at the time of logging your application AND at the time of commencement of the lease.
TENANT ELIGIBILITY REQUIREMENTS
NRAS mandatory requirements include the following two provisions:
1) Dwellings must be rented to ‘eligible tenants’, i.e. tenants whose income levels fall within the initial income limit.
The income levels for eligible tenants are specified in the NRAS Regulations and are updated annually. The initial tenant income levels are assessed against gross household income limits and known as the household composition.
To satisfy the income threshold and thus be an eligible tenant, your total combined gross income for the 12 months immediately before you move into an NRAS approved dwelling must be:
Household Composition & Initial Household Income Limit:
- One adult $50,489
- Two adults $69,804
- Three adults $108,434
- Four adults $108,434
- Sole parent with one child $69,852
- Sole parent with two children $86,600
- Sole parent with three children $103,348
- Couple with one child $86,552
- Couple with two children $103,300
- Couple with three children $120,048
To accurately determine household income, the tenant/s will be required to provide the following documents:
1. Copies of payslips;
2. Notices of assessment of annual income tax returns;
3. Statements from superannuation funds;
4. Centrelink payment (if applicable);
5. Statements from dividends or rents paid; and
6. Statements from parents to indicate the level of financial support provided.
Once tenanted the tenant/s household income may then increase above the income limit. However, a dwelling ceases to be eligible if the household income increases by 25 per cent or more in two consecutive eligibility years.
Example of existing tenant/s household limit:
Household Composition & Initial Household Income Limit
- One adult $63,112
- Two adults $87,255
- Three adults $111,399
- Four adults $135,543
- Sole parent with one child $87,315
- Sole parent with two children $108,250
- Sole parent with three children $129,185
- Couple with one child $108,190
- Couple with two children $129,125
-Couple with three children $150,060
Each year, the household income limits are checked and indexed according to percentage changes of All groups Component of the Consumer Price Index.
*Available Now, 12 Month Lease
Property Features:
- Two story
- Two bedroom
- Bathroom
- Ensuite
- Courtyard
- Built in wardrobes
- Electric wall heating
- Gas hot water system
- Kitchen appliances
- Fully fenced
- No pets
(the rental may increase slightly prior to letting due to the NRAS Conditions)