Tenants to be eligible tenants if they cease to be tenants of the NRAS dwelling or if their household income exceeds the income limit for their household by 25% or more in two consecutive tenant eligibility years. The existing tenant income limit is also listed at . All tenancy matters and agreements are overseen by legislation as determined by state or territory governments. The Australian Government does not select or manage NRAS tenancies. You can apply to rent an NRAS property through an NRAS approved participant or their tenancy manager in your state or territory. For further information in relation to eligible tenants, an information sheet can be found at . Market value rent and rent charged NRAS has two separate rent components: market value rent and rent charged. The market value rent represents the full market value that is expected to be paid to reside in a dwelling. Rent charged is the amount of rent that an eligible NRAS tenant pays to reside in that approved rental dwelling. Market value rent The market value rent is determined by written MRVs performed by an independent valuer who is registered and/or licensed (depending on state and territory requirements): as a valuer in the state or territory in which the dwelling is located; and with a professional organisation that has a code of conduct and adopts the professional practice standards of the Australian Property Institute; and has no commercial relationship with, or interest in: the registered or manager of the dwelling; or a recipient of a Commonwealth, state or territory government benefit in relation to the dwelling. A valuer preparing an MRV must assess the market rent of an approved rental dwelling on the basis of the condition in which the dwelling is to be rented, including whether the dwelling will be rented fully or partially furnished. The MRV must exclude any additional services such as meals, Foxtel, internet service etc.
Tenants to be eligible tenants if they cease to be tenants of the NRAS dwelling or if their household income exceeds the income limit for their household by 25% or more in two consecutive tenant eligibility years. The existing tenant income limit is also listed at . All tenancy matters and agreements are overseen by legislation as determined by state or territory governments. The Australian Government does not select or manage NRAS tenancies. You can apply to rent an NRAS property through an NRAS approved participant or their tenancy manager in your state or territory. For further information in relation to eligible tenants, an information sheet can be found at . Market value rent and rent charged NRAS has two separate rent components: market value rent and rent charged. The market value rent represents the full market value that is expected to be paid to reside in a dwelling. Rent charged is the amount of rent that an eligible NRAS tenant pays to reside in that approved rental dwelling. Market value rent The market value rent is determined by written MRVs performed by an independent valuer who is registered and/or licensed (depending on state and territory requirements): as a valuer in the state or territory in which the dwelling is located; and with a professional organisation that has a code of conduct and adopts the professional practice standards of the Australian Property Institute; and has no commercial relationship with, or interest in: the registered or manager of the dwelling; or a recipient of a Commonwealth, state or territory government benefit in relation to the dwelling. A valuer preparing an MRV must assess the market rent of an approved rental dwelling on the basis of the condition in which the dwelling is to be rented, including whether the dwelling will be rented fully or partially furnished. The MRV must exclude any additional services such as meals, Foxtel, internet service etc.
nras_explanatory_guide_-_january_2018_0.docx