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National Rental Affordability Scheme (NRAS)
The National Rental Affordability Scheme (NRAS), an initiative by the Federal Government, seeks to address the shortage of affordable rental housing.
NRAS allocates places within Communities, allowing low to moderate income earners to access affordable accommodation by providing rent at 20% below market rates. The scheme is set to provide 50,000 dwellings across Australia by July 2012.
In 2009 IRT obtained Government funding under the scheme and received approval for 22 licenses which allows IRT to provide affordable accommodation at IRT Macarthur, IRT Diment Towers, IRT Sid Wearne, and IRT Woonona.
This funding allows financially disadvantaged people who normally would not be able to afford the entry contribution into our retirement villages to share in IRT products and services and become a part of our IRT communities.
