- What is the National Rental Affordability Scheme or NRAS?
The majority of Venture’s properties fall within 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 provides an annual incentive to property owners and housing providers who supply affordable rental dwellings at 20% or more below market rent.
- Are Venture properties Public Housing?
No, Venture is an independent not-for-profit and our properties are tenanted in a similar way to that of a private rental. However, Venture tenants benefit through a reduced rent. The application process and tenancy is the same as if you were renting through a local agency with a private landlord. The difference is Venture owns and manage all the properties which are under the NRAS Scheme and are thus able to rent them at a reduced rate.
- What types of accommodation does Venture have?
Venture owns a mix of units and townhouses which are leased under a mix of social housing, affordable housing (NRAS) and Specialist Disability Accommodation.
- 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. Venture then determines the rent, which must be under seventy-five (75%) of the market rental valuation, in order for it to retain it's charity status.
Furthermore, Venture monitors the local private rental market and regularly reviews its rents to ensure that they meet the NRAS guidelines and Venture’s social objectives.
- In addition to the rent, what other costs are tenants expected to pay?
At the commencement of a tenancy, the tenant must pay four (4) weeks’ rent as a bond and the first two weeks’ rent. The tenant is also responsible for connecting and paying for electricity, phone and internet and any contents insurance. For some of our properties, tenants may also be required to pay for the water and any expenses incurred to maintain your 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 property outside of business hours and require a locksmith or require any additional keys or fobs, this will be at the tenants' expense.
Venture will cover all expenses in maintaining a tenant's property as long as the damage is fair wear and tear. Should a contractor make an appointment to attend a tenant's property it is the tenants 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 does not make the appointment or does not cancel with the contractor a call out fee will be charged to the tenant.
- What documents will I need to provide for my application?
The following documents are required for your application to be assessed. As these can often take time to collect, we recommend, should you wish to rent through Venture, that you collect these in advance, as this will allow you to apply as soon as a property becomes available:
- Proof of Australian residency – Passport, Citizenship Certificate, Birth Certificate or Visa documents
- Additional Proof of Identity up to 100 points, see application form for more details
- Proof of income – Six (6) most recent payslips from date of application, latest Tax Assessment Notice, current Centrelink Statement, Bank Statements and any other evidence of income.
- Venture also requires that you provide employment, rental and personal references on your application. Please let your referees know to expect a phone call from Venture.