What is NRAS?
The National Rental Affordability Scheme (NRAS or the Scheme) is a partnership between the Australian Government and the States and Territories to invest in affordable rental housing.
The Scheme, which commenced in 2008, seeks to address the shortage of affordable rental housing by offering financial incentives to persons or entities such as the business sector and community organisations to build and rent dwellings to low and moderate income households at a rate that is at least 20 per cent below the market value rent.
NRAS aims to:
- increase the supply of new affordable rental housing
- reduce rental costs for low and moderate income households
- encourage large-scale investment and innovative delivery of affordable housing