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As your rental property comes towards the End of NRAS, there are 9 key steps you should follow to increase your profits from the day your investment becomes a standard market rental property.
Recently, we’ve heard from property investors who’ve lost thousands of dollars due to the mismanagement of their property coming out of NRAS. The media has also reported on significant problems regarding the end of NRAS in 2026.
Looking to sell or lease your property? Find out the market value and potential rental income for your NRAS home? Search your address below for a digital property report.
You can prepare and protect your NRAS investments from major losses.
NRAS is a program only accessible for 10 years. This means that the government subsidies will stop and rent will go up to the market rates.
Depending on when you entered the NRAS program, this means your end date will vary.
For example, if you entered NRAS in 2012, it will end in 2022.
Check with your NRAS Approved Participant or NRAS Property Manager to make sure you know exactly when your end date occurs.
Once you know your timeframe, you will be able to plan accordingly.
Coming out of NRAS, you should ensure that your property returns to market rent right away.
Advise your NRAS Approved Participant and your property manager IN WRITING 6 months prior to your NRAS Expiry Date that you want your property to revert to market rent from the day after your NRAS expiry.
To make sure you get the most out of your rental property as you leave NRAS, seek an appraisal from a local expert real estate agent.
For Brisbane Northsiders, there is no better choice than Affinity Property. We will tell you exactly what happens at the end of NRAS, and guide you through the process.
It is important that tenants, property managers and investors all know ahead of time when the NRAS expiry date is ending.
This way, all parties can make the best choices for their futures.
In the event your tenants want to re-sign a lease with you after NRAS ends, you can set the rent either at market rate or whatever is agreed to by all parties.
If you or your tenant wish to terminate the tenancy relationship, you can do this in accordance with state tenancy legislation. This provides you with the flexibility to sell your property or lease your property to a new tenant.
By getting ready before you exit the NRAS scheme, you are saving yourself and the tenant from stress and frustration.
If your lease end date extends beyond the NRAS Expiry Date, you may be legally obliged to rent your property at the reduced NRAS rent with no financial benefit to yourself.
Also, some NRAS agreements have hidden clauses that allow your NRAS Manager to carry over the property management agreement on terms that may be unfavourable to you. It’s important you check your agreement and notify your instructions in writing to your property manager.
If you intend to rent at the normal market price, you’ll want an expert analysis on the optimal price. This will help you maximize your investment returns.
Affinity Property is the best option for Brisbane’s Northside for those who want an expert appraisal.
Coming out of NRAS, you want to prepare for the loss of government subsidy.
By consulting with an accredited investment property expert or financial advisor, you’ll be able to find ways to increase income and reduce cost.
As such, the loss of government incentives won’t hurt you as much, if at all.
If you would like to discuss the transition of your property out of NRAS please contact our Managing Director Sean McCreanor
Affinity Property is a nationally recognised expert in NRAS property management and sales. We have a proven process that works when we sell NRAS properties. We help clients across Australia with numerous NRAS models.
Otherwise, you can give us a call at: 07 3293 9100 or you can email reception@affinityproperty.net.au
If you are thinking of selling your NRAS Property, did you know research has shown property staging & styling can boost your sale price by up to 12.5%. Read more about ‘How to Style Your Property for Sale’
Or, call us now on 07 3293 9100
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