If you are an National Affordable Housing-NRAS investor and you choose to sell your NRAS property before the expiry of the NRAS allocation, the remainder of the allocation could be passed on to the new buyer.

In order to do this you must follow the process detailed in your National Affordable Housing agreement and the relevant property and tenancy laws.

Generally, this process includes the following steps:

1. You must provide appropriate notice of the sale to NAH, the property manager and the tenant. The notice period to National Affordable Housing and the Property Manager is six months for a head lease agreement or three months for a Delivery Agreement. Notice periods to tenants is strictly controlled under legislation and National Affordable Housing agreements;

2. The transaction must be completed as efficiently as possible; and,

3. All involved parties must pay their obligated fees and charges.

If you intend to sell please email National Affordable Housing at compliance@nahc.org.au. Once notice is received NAH will provide further detailed information including approximate costs.

If you are selling to another NRAS Investor (i.e. the property will remain in the NRAS Scheme) your NRAS Agreement is transferred to the buyer and your tenant may remain in the property. The Government Incentives will be divided pro-rata between parties.

If you are selling outside of NRAS, your NRAS Agreement must be terminated prior to settlement. Your tenant must be provided suitable notice to vacate before settlement and Government Incentives will be payable until the date the NRAS Agreement is terminated.

For more information on buying or selling NRAS, please contact our compliance team at compliance@nahc.org.au