National Rental Affordability Scheme
Through the National Rental Affordability Scheme (NRAS) AHS and partner housing associations have delivered nearly 2,000 homes for affordable rents.
AHS has prepared and lodged a total of 10 NRAS submissions across all 4
Rounds on behalf of not-for-profit housing associations based in Melbourne,
Sydney and the Sunshine Coast: four
submissions in Round 1, three submissions in Round 2, two submissions in Round
3, and one submission in Round 4.
Collectively these submissions have sought a total of 3,293 NRI’s with
approximately 60% being approved and implemented.
developed a process to procure dwellings to a set criteria.This process
utilizes local quality builders by purchasing ‘off the plan’ at the ‘design for construction’ phase to a
set criteria including configuration, price, value and location.
In May 2009 housing ministers agreed on the need to develop a large-scale not-for-profit sector to increase choice, deliver more housing supply and enable non-government providers to leverage their portfolios.
NHC has been established in response to the government’s initiative and support.
Need for a Cross-Sector Operator
Government acknowledges that the community housing sector is still evolving from its small scale origins and needs assistance to grow the sector.
Government recognises the need for private sector involvement. However private investment has been limited due to the perception that commercial returns are insufficient.
NHC Business Model
NHC intends to fill the role of the missing operator in the Australian affordable housing market. NHC understands that whilst private equity is not being invested into the sector, private debt markets would be comfortable with the type of structures available.
For this reason NHC will act as a conduit that will:
- attract large tranches of private debt to good quality housing,
- purchase new residential property with a clear and well considered strategy,
- have a well considered exit strategy in place to ensure the sustainability of NHC,
- link housing to available government subsidies, and
- use community housing expertise to manage those dwellings.
NHC aims to employ the capabilities, skills and experience it has gained from all sectors with maximum efficiency and effectiveness.