The most searched term on the website realestate.com.au is NRAS or National Rental Affordability Scheme, indicating renters are still looking for support with their rent.
NRAS was as scheme introduced in 2008 to tease the financial burden housing may have on low to middle income earners. It provides financial incentives for 10 years from both the state and federal governments.
ccording to the website’s chief economist Nerida Conisbee, it’s not surprising that NRAS is the most popular search term with cumulative 203,847 searches in the past year. She noted that for almost every week, the most popular rental property is an NRAS property.
Small-scale private and individual property investors can be involved in the scheme by purchasing property from approved participants that are already involved. The property must be rented to eligible tenants at least 20 per cent below the market value rent in order to gain incentives from the scheme, which are offered annually for 10 years.