What is Affordable Housing?
Affordable Housing schemes enable properties to be leased with subsidised rent to eligible working households on low to moderate incomes.
Many Venture Housing properties receive a subsidy under the National Rental Affordability Scheme (NRAS). NRAS is an Australian Government initiative that 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 on lower incomes.
Eligibility requirements differ across our Affordable Housing products, some products have lower income limits. This ensures we remain responsive to the diverse needs of the community and continue to deliver optimal social and economic impact.
To apply for any of our affordable homes, you must:
- have at least one adult member of the household receiving an income through employment
- be able to show you can make regular rental payments
- be a resident of the Northern Territory or be able to provide evidence that you are relocating for work
and must not:
- currently own a property in the NT
- get a rental subsidy from your employer or another housing program
- exceed the Affordable Housing or NRAS income limits - income is only assessed for adults and independent minors. Dependent minor income is not assessed.
Check your eligibility for NRAS Affordable Housing via this link Income limits for NRAS can be found here NRAS household income indexation
Check your eligibility for Affordable Housing via this link, income limits for this program are higher than NRAS.
How is rent calculated?
A market rent valuation is completed on all properties from a registered property valuer each year. A percentage discount (subsidy) is then applied in order to determine the rent.
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 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 through 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.