National Rental Affordability Scheme (NRAS)

The majority of Venture Housing properties receive a subsidy under the National Rental Affordability Scheme (NRAS). NRAS is an Australian Government initiative which aims to increase the number of new and affordable rental properties throughout Australia.  It enables Venture to offer affordable rental properties at twenty-five percent (25%) or more below market rent, for eligible tenants.

How is rent calculated for affordable housing tenants?

In accordance with NRAS, Venture obtains a market rental valuation on all its properties from a registered property valuer. We then determine the rent, which must be under seventy-five percent (75%) of the market rental valuation.

In addition to rent, what other costs are tenants expected to pay?

At the commencement of a tenancy, the tenant will be required to pay four (4) weeks’ rent as a bond and the first two weeks’ rent in advance. The tenant will also be responsible for connecting and paying for electricity, phone and internet and any contents insurance. For some of our homes, tenants may also be required to pay for the water and any expenses incurred to maintain the garden.

Tenants are responsible for any costs incurred in replacing light globes, cleaning air conditioner filters and for pest control. If tenants lock themselves out of their home outside of business hours and require a locksmith or require any additional keys or fobs, this will also be at the tenants' expense.

Venture will cover all maintenance expenses in a tenant’s home that occur though fair wear and tear. Should a contractor make an appointment to attend a tenant's home it is the tenant's responsibility to ensure the contractor has access, either by being present to let the contractor in or providing permission for the contractor to have key access.  If the tenant misses the appointment or does not cancel the contractor a call out fee will be charged to the tenant.