NRAS - ETHAN: class action

Hundreds of small investors have been burned badly by Ethan Affordable Housing Ltd. (owned by Ashley Fenn),
Ethan Affordable Housing violated the contract between them and investors by withholding from them the government "incentive" specified in the contract. Why it went for years with relative impunity is beyond me.
Individual investors have very little chances to recover their money on their own. To have a reasonable prospect of success, a Class Action is required here.
Personally I'm out of pocket almost $20,000 for the last TWO years. Cumulatively, Ethan is owing investors MILLIONS of dollars which they use unlawfully for their own enrichment disregarding completely the effect on 'mums and dads' investors.
Only TOGETHER we can fight this shameful misconduct.

If you are one of the victims, please urgently contact me by email:
[email protected]

Best regards.
Daniel (Melbourne)

 

Sent PM

 

Hi Daniel,
I am also having the same problems with Ethan/Tebter.
I also have a headlease with Tebter and they have even recently stopped transferring the rent for the property.
I think a class action is the only thing to do. It seems Ashley Fenn, with political connections to Cory Bernardi (another property wheeler and dealer, to say nothing of his politics) is a a serial fraudster. Tebter is apparently also registered offshore.

A lawyer with experience with Ethan in W.A. was referred to on this page - I found this pdf - is this the lawyer being referred too?

Paul Donovan Director MDS Legal Level 2, 16 Irwin Street PERTH WA 6000

Cheers,
John

 

Is there an update for this matter please?

 

whatever else you guys are doing - priority #1 is to get your incentive transferred away from Ethan/Tebter and /or away from Quantum/Tebter.

Do it today.

NRAS payments for last year from Ethan housing

 

Mmmmm ... is there any untoward history in WA?

I am concerned about tenants being forced to sign up for Rental Rewards to pay their rent.

 

Ethan Headleases (VIC) just sent an email referencing that today:
"From our last email you may recall that we have experienced problems from our upgraded banking system with Osko (NPP Payment System). To rectify this issue we have now implemented a new system called ‘Rental Rewards’

Any idea what their "Rental Rewards" system is about?

 

Tebter/Ethan are requiring all rents to be paid via Rental Rewards.
Pay Rent Online | Credit Card Rent Payment | Rental Rewards

Personally I have extreme concerns regarding the placing of banking details on another website so they can go to a person's bank and draw out money to pay rent then pay it to Tebter/Ethan.

RR charges fees for all manner of payment plus fines.

Tebter/Ethan are pushing it as being 'fee free' but it is clear from T&Cs that it is not.

RR do not accept any responsibility for any fraudulent activity.

 

Someone has to pay for the upkeep of RR website, staff, overheads etc.

 

Indeed!
This thread has quite a bit of info on the subject of RR:
rental rewards rent payment program? - Real Estate - Home

 

Yes I saw that ... extremely concerning.

Not sure if people saw this. See page 20.

 

I can’t say this any more bluntly - change providers !

If everyone currently with Ethan or Quantum changes to AAHS or AMC or similar, it will end this guys rorting. It will make Ethan, Quantum and Tebter worthless. It will end the gravy train for this guy.

This is why the regulations were changed in 2017 - allowing investors to instigate the change of Approved Participant for the first time. Previously, only AP's could instigate this. But the regulations were amended specifically to aid people getting away from Ethan and Quantum. Use the regulations. CHANGE

I have posted about this previously on other threads. I provided all the documents required to make the change. I provided the details for 2 alternative NRAS Approved Participants ( consortiums ) that I recommended investors should speak with and choose from ...

So, for anyone who is with Ethan or Quantum and concerned about payments - the paperwork is attached again FYI. To this thread. It takes 10-15 minutes to complete it and submit it .

 

Excellent ... thanks for the extra information! Much appreciated.

 

Current details for ABN 78 623 020 440 | ABN Lookup

 

Is there a list of NRAS approved Real Estate Agents in WA that are NRAS approved please?

 

No such thing as NRAS approved, really....

If you have changed NRAS providers, ask the new one who they use... you won’t be able to use anyone you like as they usually have a preference for one or two particular agencies , but that’s not because of any qualification per se - it’s just to try and get some efficiencies

 

Does anyone know if AAHS or AMC will manage NRAS properties in Darwin at all ?

Being with Ethan since 2014, and still waiting for my Federal for 15/16 and both for 16/17. DSS has shown that payments are made 2016/2017.

this is the response I had from DSS today showing where you may check if your payment is delivered to AP:

"... Investors can search the reports using the Dwelling ID for their rental property to check whether or not the incentive payments have been issued to their approved participant. Reports are available for the 2014-15, 2015-16 and 2016-17 NRAS years. The 2017-18 report is yet to be published ..."

Your Dwelling ID may be obtained by writing to [email protected] with your property detail, and evidence that you own the property, like a rate notice, and DSS response is really quick

 

Yes they will.

 

Applied a transfer application to DSS - moving away from you know who, and received an update from DSS today:

" ...
Since the amendments were introduced, the Department has received over 400 investor-initiated applications to transfer to a new approved participant. Many of these applications raise complex legal issues that requires advice from other areas both within the Department and externally. Regrettably, investigation of investor requests for transfer has taken longer than the Department initially anticipated.

To date, consistent with the Regulations, the Department has:

· transferred over 80 NRAS allocations from one approved participant to another.

· issued notices of proposed transfers to investor and approved participants.

· written to over 60 investors where, unfortunately, grounds to transfer have not been met and the request has been declined. In these cases, the information provided in their request did not allow for a transfer under the current NRAS Regulations.
..."

I though I share the update with the group ... little surprised to see that only 400 applied to transfer, what are other 1800 investor doing ?

 

Hi Ying Li,
I am a new member just joined today. I am one of the many thousand victims to this Ashley Fenn. Please tell me what to do to get my hard earned money back. How to get the transfer done? How to get back those arrears? Incentive or not, it does not really matter anymore. I just want to get out of this Tebter/Ethan connection. I will back you up all the way. Just tell me what to do. Thanks.