New NRAS regulations allow investors to change their AP

The National Rental Affordability Scheme(NRAS) Regulations 2008 were amended on 18 November 2017 to create protections for investors of approved rental dwellings in NRAS.

These changes allow the investor to request a change of their Approved Participant in certain circumstances.

 

Are the regulations in favour of investor or tenant?

 

The changes do not relate to the tenant, the changes allow investors, who may be unhappy with the service or responsiveness of their AP, to switch the management of their NRAS incentive.

 

What is AP?

 

An Approved Participant

 

Old news...
This has been posted about extensively through Dec and January already

Is it possible to change PM of NRAS?

 

Thanks Euro73. It may be old news to us, but have found that there are many property managers who are completely unaware of the NRAS update

 

I would argue its got little to do with tenancy managers . Not sure why they need to know? Tenancy managers arent who the changes are targeting

Its really only relevant to owners/investors seeking to switch AP's. The changes were introduced in response to ongoing complaints about one particular AP who had been doing some dodgy stuff ie not paying.

All in all a very good initiative which gave an arrogant AP a real shot between the eyes.... but one that should only be pursued if an investor has legitimate grounds for concern that their AP is putting their payments at risk.

 

Property managers need to know because its the property managers who are dealing with investors. Good APs works in partnership with property managers to deliver a good service an ensure the investors compliance with the NRAS regulations.

 

And, I agree, a very good initiative

 

All AP's and their tenancy managers should be doing that already. They are paid very well to look after NRAS properties... which are very easy to look after.


Do you work for one of them perhaps? ....

 

Yes, I work for an NFP AHA and Homelessness Services provider which is also an AP... And congrats, I just read through the "extensive" posts, links to docs, etc from last year.. good stuff. Clearly you're all over it.

 

Like a fat kid on a candy bar