National Rental Affordability Scheme (NRAS)

            National Rental Affordability Scheme (NRAS)

 
The National Rental Affordability Scheme (NRAS) is a long term commitment by the Australian Government to invest in affordable rental housing.

The Scheme seeks to address the shortage of affordable rental housing by offering financial incentives to the business sector and community organisations to build and rent dwellings to low and moderate income households at 20 per cent below-market rates for 10 years. NRAS aims to:

• increase the supply of new affordable rental housing;
• reduce rental costs for low and moderate income households; and
• encourage large scale investment and innovative delivery of affordable housing.

The Australian Government has committed $1 billion to the Scheme over four years to stimulate construction of up to 50,000 high quality homes and apartments, providing affordable private rental properties for Australians and their families.

---