NRAS Offers Solution to Pricey Rental Housing

May 16, 2012 by  Filed under: Loans 

Not everyone will be able to afford a house, especially those who are in the low- and middle-income families. In Australia, pretty much like everywhere else, there are lots of individuals and families who can benefit largely from an affordable housing.

That is what National Rental Affordability Scheme offers.

This is what the government sees as the most suitable solution to the lack of affordable rental housing in the country that could largely benefit a lot of people. It is also a good way to boost the housing market as this can encourage outpour of investments in properties.

Getting to know NRAS better

The National Rental Affordability Scheme is designed to achieve two things. First, it allows people who do not earn a lot to have the opportunity to rent a decent house. Second, it encourages investors, through financial and tax incentives, to buy properties and convert them to affordable rental dwellings.

It presents a win-win situation for both parties.

What benefits can you enjoy from this housing program?

As a tenant, you will enjoy rental rates that are 20% lower than the standard price. Dwellings approved by the NRAS program are going to be a lot more affordable for certain individuals.

This is definitely a great deal for people who only want to have some place to stay. It addresses the huge issue on insufficient numbers of affordable housing for tenants. Through this program, everyone gets to have the opportunity to find a place to stay without experiencing difficulties keeping up with the payments.

Who are qualified to affordable rental housing?

To qualify for the low rental prices, you need to be certified by the National Rental Affordability Scheme. There are thousands of people who are waiting to get approved for the program.

The obvious beneficiaries of the program are individuals and families that belong to the low- to middle-class income bracket. Also, public workers, like police officers and nurses, are also eligible to the program.

The tenants have to be screened and reviewed by the program. They need to establish that a certain candidate fits the requirements they have put forth.

Since there is an increasing number of dwellings that are being included in the program, then these people should all get their chance to be included.

It is hard to keep up with monthly rent if you are either starting out in the workforce or the sole provider for a family. You can try to tighten your belt as much as you can but house rent is something you cannot include in your list of things to spend little one.

You may consider cutting down on the money you use to buy food but you will never sacrifice your rent because losing a roof over your head can have far more severe effects.

It is great that NRAS can offer people who are not that financially well off to a chance to have a home they can sleep in at night.

The National Rental Affordability Scheme (NRAS) is a government initiative that aims to provide affordable housing to low income earners. This content is my compilation of knowledge about NRAS – how to get low mortgage rates, quick approval, and expert advice.

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