Property and tenant management

As with any private investment property, there are a range of property and tenant management services that need to be performed for all NRAS properties.

NRAS investors must appoint a tenancy and/or property manager to provide services including selection of tenants and periodic assessment of their ongoing eligibility to rent an NRAS property, as well as property maintenance.

A tenancy manager can be contracted on a fee-for-service basis by an investor, or be part of the consortium which applies for NRAS Incentives.

Standard State and Territory residential tenancy laws apply to NRAS properties just as they do for any private residential investment. This includes laws applying to registration and licensing requirements for tenancy managers.

NRAS tenants and landlords are regulated under State and Territory tenancy laws. The same rules regarding evictions, maintenance obligations and responsibilities of tenants apply to NRAS tenants as they do to other tenants in the private market.

NRAS tenants

NRAS tenants tend to be key workers, such as childcare workers, nurses, police officers, fire-fighters and paramedics. Approximately 1.5 million households are currently eligible to rent NRAS properties.

Investors can pick any tenants for NRAS properties², as long as these tenants do not exceed a certain income threshold.

Income levels for eligible NRAS tenants are generous and allow for tenant salary increases of 25 per cent above the entry income limit.

For example, a couple with three children, earning a gross income of $104,913 per annum, is eligible to rent an NRAS dwelling. With the income increase allowance of 25 per cent, this family could earn up to $131,141 for two years before they become ineligible to remain in an NRAS property.