The Residential Development Council is supportive of the National Rental Affordability Scheme (NRAS) launched by Treasurer Wayne Swan this morning in Sydney.
The NRAS aims to improve affordable rental accommodation by engaging financial institutions, developers, non-profit organisations and local councils as funders, builders, owners, and/or managers.
Ms Caryn Kakas, executive director of the Residential Development Council, said while the NRAS is a good start, it does need some fine-tuning.
“The NRAS has the ability to significantly improve affordable rental accommodation but it needs further refinement,” Ms Kakas said.
“In order to ensure participation particularly by developers and investors, and to ensure eligibility and compliance are not onerous, it will be important to make certain consistency between jurisdictions.
“The Residential Development Council looks forward to continuing to work collaboratively with the Government on making this happen,” she said.
The proposed value of the scheme is $6,000 per annum from the Commonwealth (indexed to the rental component of the CPI) and $2,000 from states and territories.
A briefing note on the NRAS is attached for further information.
Caryn Kakas, Executive Director, Residential Development Council on
0404 257 540 or firstname.lastname@example.org; or
Kate Ellis Welsh, PR & Communications Manager, Residential Development Council on 0438 760 206 or email@example.com