Investing in housing
Hume has a reputation for high standards of conduct and probity, which are reinforced by legislation and the ethos of the community housing sector.
Our vision is to create vibrant, sustainable and cohesive communities through the delivery of outstanding homes and equitable services.
By partnering with Hume you are assisting to support our vision, through our vibrant partnerships Hume is committed to delivering an affordable housing program, targeting low to middle income earners.
The National Rental Affordability Scheme
The National Rental Affordability Scheme (NRAS) is a partnership between the Australian Government and the states and territories to invest in affordable rental housing.
The Scheme, which commenced in 2008, seeks to address the shortage of affordable rental housing by offering financial incentives to persons or entities such as the business sector and community organisations to build and rent dwellings to low and moderate income households at a rate that is at least 20 per cent below the market value rent.
- increase the supply of new affordable rental housing
- reduce rental costs for low and moderate income households
- encourage large-scale investment and innovative delivery of affordable housing.
- an Australian Government contribution of $8,187 per dwelling per year (as a refundable tax offset or payment)
- a State or Territory Government contribution of $2,729 per dwelling per year.
Your property is entitled to receive NRAS incentives for so long as it complies with the requirements of the Scheme. Hume is an experienced manager of NRAS dwellings and will manage your property in accordance with these guidelines.
You will need to seek you own financial legal and taxation advice on how NRAS will apply to you. Hume is unable to offer any form of taxation, accounting legal or financial advice relating to NRAS.
You can find further information on the Australian Tax Office website
Hume Fee for Service Program
Hume will provide tenancy management and NRAS compliance services to ensure your property is managed efficiently and will meet on going NRAS requirements.
These services are provided by way of a Property Management Agreement, which you will be required to execute in order to participate in the NRAS Scheme. This agreement meets the requirements of the Australian Tax Office in order for you to be able to take advantage of the tax-free nature of the NRAS incentives.
Summary of tenancy management services
Hume will provide the following services:
- a dedicated Property Coordinator, who will become your key contact at Hume. Our Property Coordinator will take on responsibility for the care and maintenance of the property as per our agreement.
- an alignment with NRAS guidelines to provide you with the most suitable, eligible tenant to ensure a rent is set within the agreed NRAS requirements
- that each tenant is interviewed, reference checked and assessed against the NRAS eligibility criteria
- a property condition report at the commencement and termination of each tenancy
- all tenancy agreements are appropriately signed, bonds collected and lodged
- a monthly statement of rents collected
- the agreed process for escalation of maintenance repairs, within set dollar value
- a minimum, two inspections per annum
- manage all tenancy breaches, including preparation of submissions to NCAT, attendance, mediation and settlement of cases.
The full scope of services we provide is included in the Property Management Agreement
Other services available (dependant on your individual agreement with Hume):
- quote and undertake all major maintenance works
- manage communal area cleaning and maintenance works
- pay property accounts and statutory charges, including water, council rates, body corporate fees, caretakers etc.
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