National Rental Affordability Scheme - NRAS Properties are the newest way for an investor to buy a Positive Cash Flow Property.
8 Things you MUST know about NRAS before you start looking at buying a NRAS properties.
1.The National Rental Affordability Scheme or NRAS properties was launched in 2008 for the purpose of providing assistance and funding to increase the supply of affordable rental dwellings, reduce rental costs to low to mid income earners and to encourage investment on a large scale to provide more affordable housing.
3. The whole scheme runs on the requirement that the investor reduces the rent by 20% (may vary according to incentive provider) of the market rent, the government will provide an incentive of $9,140 per annum ($6,855 from Federal and $2,285 from the State governments in cash and rebates ).
4. This payment increases in line with CPI and in 2010 it is $9,140 per dwelling.
5. The NRAS property tenants are determined on an income basis with the service industries such as police, teachers, fire services and nurses targeted as potential tenants.
6. The income capping for a NRAS property tenant is a Gross Income of $101,561pa - as compared with a Social housing gross income of less than $58,292pa.
7.The incentives are TAX FREE -meaing you can earn more money, own more property and pay less tax.
WATCH OUT FOR THIS ONE:
8. The NRAS certificate is NOT provided to the property but to the developer - as such each property needs to to be confirmed that the proeprty in fact has NRAS certificate attached when purchasing.
Experts are saying that if you are wanting to buy property at the bottom of the down cycle and get money handed to you on a siver platter then there is no better time to buy.
Current List of NRAS Properties For Sale Here
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