How do I transfer my NRAS Property to a New Manager?
The Federal Government has recently introduced new legislation enabling NRAS Property Investors to transfer the management of their NRAS Property to another NRAS Approved Participant. This is great news for investors who are unhappy with their existing NRAS arrangements!
The purpose of the new legislation is to provide NRAS investors with much greater protection. Investors can lodge a request to transfer their NRAS property from one provider to another for a range of reasons, including:
- there has been a failure by the approved participant to comply with a condition of the NRAS allocation;
- the approved participant provided false or misleading information to an investor;
- the approved participant contravened a consumer protection law, such as engaging in misleading or deceptive conduct in relation to their allocation, or engaging in unlawful anti-competitive conduct;
- forcing investors to comply with unreasonable requirements or systematically failing to respond to investor requests and enquiries for information, including regarding the payment of incentives.
- NRAS Investor Protection Regulations (2017)
- NRAS Investor Protection Regulations Explanatory Statement
- Federal Government NRAS Web Site
If you would like more information about how we can help you buy an NRAS property, sell your NRAS property, transfer to another provider or exit the NRAS program, please contact us with your appraisal request or phone (07) 3293 9100.