Victorian Governement to subsidise investors for rental properties!
Where do i sign up. Anytime the governement steps in with these ideas its a windfal for savvy investors
Todays age
4500 new affordable rental properties for Victoria DEWI COOKE
March 12, 2010 - 7:47AM
A further 4500 affordable rental properties will be built in Victoria as part of the state government's plan to tackle Melbourne's record-low vacancy rates and rising rents.
The government is expected to this morning announce that Victoria will contribute $177 million in incentives to encourage investors to build the properties under the federal government's National Rental Affordability Scheme.
Under the scheme, properties are earmarked for rental to low-income individuals and families while private investors or community housing associations are provided with tax-breaks and subsidies from both the Commonwealth and state governments over a 10-year period.
The announcement will be made as part of the launch of the long-awaited Victorian Integrated Housing Strategy.
However, it is understood that the strategy does not include any plans for "inclusionary zoning" - a planning tool mandating the amount of new housing stock to be set aside as social or affordable housing - despite the efforts of lobby groups to convince the government.
Housing Minister Richard Wynne and Consumer Affairs Minister Tony Robinson will launch the plan at 9am.
http://www.theage.com.au/victoria/4...al-properties-for-victoria-20100312-q20m.html
Where do i sign up. Anytime the governement steps in with these ideas its a windfal for savvy investors
Todays age
4500 new affordable rental properties for Victoria DEWI COOKE
March 12, 2010 - 7:47AM
A further 4500 affordable rental properties will be built in Victoria as part of the state government's plan to tackle Melbourne's record-low vacancy rates and rising rents.
The government is expected to this morning announce that Victoria will contribute $177 million in incentives to encourage investors to build the properties under the federal government's National Rental Affordability Scheme.
Under the scheme, properties are earmarked for rental to low-income individuals and families while private investors or community housing associations are provided with tax-breaks and subsidies from both the Commonwealth and state governments over a 10-year period.
The announcement will be made as part of the launch of the long-awaited Victorian Integrated Housing Strategy.
However, it is understood that the strategy does not include any plans for "inclusionary zoning" - a planning tool mandating the amount of new housing stock to be set aside as social or affordable housing - despite the efforts of lobby groups to convince the government.
Housing Minister Richard Wynne and Consumer Affairs Minister Tony Robinson will launch the plan at 9am.
http://www.theage.com.au/victoria/4...al-properties-for-victoria-20100312-q20m.html
