NRAS payments for last year from Ethan housing

We also have an NRAS property that was under Ethan Affordable Housing. We are awaiting the 2016/2017 state incentive payment still. I have heard since December that it is almost ready, but still no cheque! Anyone else missing this payment?

We are over with Quantum Housing now, didn't know we could select our own consortium, thanks for that info Euro!

Any advice where to go to try and get last years state incentive paid? Have been emailing Ethan Helpdesk but they are full of it, just found DSS email to try so have done that. Any other options?

 

[email protected]

Tamara Hall is the Acting Director of NRAS


In the interim, you should switch providers to one that operates properly. Here are two to consider ....


Questus...now called AAHSL ( Australian Affordable Housing Services Limited )

Contact Patricia Dutton on 1800 940 773 or [email protected]


AMC ( Affordable Management Corporation)

Contact Rob Beaumont on 07 3555 9500 or [email protected]

 

What is the phone to contact Catherine at DSS? Thanks

 

Thanks Euro, I emailed DSS and have been told that my only option is to keep trying to contact Ethan or take civil legal action They also told me about having the right to change consortiums but the form I printed doesn't give you the choice to select where you go to?

They did give me the email for DHHS or something so I've tried that but not sure we will have any luck.

 

Ive attached the forms earlier in the thread, as well as some recommendations of consortiums to switch to.

 

They are the forms I printed from, they don't have a spot to select a new consortium, the secretary just moves you I think?

 

I'd put in into Q8... just add a note nominating your preferred AP

 

Hi there.
I have the same problem with my NRAS property in Melbourne. My property is also managed by Ethan Affordable Housing. I haven't been paid the 'incentive' for the last 2 years. Ethan is not responding and DSS is completely useless.

There are many people in our situation so class action might be possible. I am ready to join the class action if someone can start to talk to the lawyers.
This is my first attempt at contacting other investors, and it looks like we have to get together and do something about it...
If anybody knows how to setup a dedicated place online, a simple website or an easy-to-find chatroom specifically for gathering of all the "NRAS victims" so we could fight this rip-off together...
Best regards.
Daniel

 

Before you do anything else Daniel - change providers so you wont be chasing 3 years of payments, next year. Do it immediately. The new NRAS year started on May 1, so you are already 2 months into the 18/19 NRAS year. All the necessary paperwork that you need is attached to an earlier post in this thread, as well as contacts for other NRAS AP's who you can switch to.

RE the missing Ethan money. Ethan should only be holding the state NANE, which is 25% of the NRAS incentive. Have you claimed the federal payment , which is the other 75%? if you havent - you should do so right away.

To review

1. change providers so you dont have this issue next year or any other year
2. get 75% of whats owed to you by getting the federal part back.
3. chase Ethan for the other 25%

 

There appears to be one law firm in WA who have some experience in this matter. You could try approaching them to see whether they'd be interested in a class action...

see attached

 

Ethan holds 2155 incentives, and Quantum ( who the sole director of Ethan appears to have purchased in 2016 so he could de-register Ethan in 2017 and transfer all their incentives to Quantum) holds 1196 incentives. See attached

That's a total of 3351 incentives he now controls. If he has held back the state payment on all of these for 2 years ( not saying he has) that could mean a figure of @ $5500 that he has held back across the 2 years . If he has done that to all 2155 of the Ethan incentives, the amount would be a little over @ $11.85 Million ... and its 100% tax free money. Astonishing.

I imagine a solicitor working on a no win/no fee basis may find that kind of thing quite appealing as a class action...

All I'm saying is this ; if you are having trouble or are concerned that they will have trouble in future..... consider taking steps to protect your $$$$$

One of the names I provided earlier in the thread is AAHSL . AAHSL is an entity made up of the old Questus and the old Horizon Housing and the old Community Housing Limited. They are an AFSL holder that manages NRAS incentives via a Managed Investment Scheme called the Australian Residential Investment Fund. They fall under the purview of ASIC. If you are looking for an NRAS model that offers multiple layers of consumer protection and recourse and regulatory oversight, you could do worse than have a chat with them about your needs.

I have also provided the details for AMC - another provider who have an excellent track record.

Decide for yourselves what you think the smart play is....

 

Thank you very much, Euro...
Your comprehensive information was very helpful and much appreciated.
After my additional research is seems that the "Ethan Problem" is much bigger and much more pervasive than I suspected, almost Mafia-like in its character and most likely "well protected" as well. Still not sure how best to organise the attempt at recovering the unpaid monies (almost $20,000), and how to get in contact with other victims of this scam to make the recovery attempt more viable. I don't think the DSS would provide any list of the affected investors.
Any suggestions or ideas would be greatly appreciated.
Thanks again, Euro73...
Best regards
Daniel.B

 

@euro73 hi euro. Might be a silly question. Would both AAHSL and AMC cover Melbourne CBD?

 

Yes. Both do. They both have incentives across multiple states. See Page 11 of the document I attached previously

 

Just for reference... polar opposite experience at AAHSL

99% of RTO's are already issued, and state payments have also started rolling through... we are still in July

 

Thank you so much. How to claim the federal payment ?

 

Lodge your tax return. Your accountant will claim it at section 13 - Partnerships and Trusts

 

Most investors with "Questus" ( now renamed AAHS) incentives should be starting to see their NSW state payments rolling through today and early next week.

QLD payments were finalised by all providers a couple of weeks back.

WA coming soon...

 

I would like this article please

 

Hi Euro73. Appreciate your input to all this Ethan rubbish. I am fortunate to have received my 16/17 Fed incentive from Ethan however I like the others have not received my state payment from Victoria. I contacted Vic Gov and they confirmed Ethan was paid my incentive July17. Each month since Oct17 Ethan has advised it is coming, just around the corner. The most recent response mid Aug was no later that Oct18. I have been tentatively moved to Quantum who advise that Ethan submitted an application to transfer NRAS allocations to Quantum, however the request was not approved by DSS!!!!
My question is this: As Quantum state they have submitted all statements of compliance for 17/18, what happens if I request a change of provider now? Or should I wait till 17/18 is satisfied? Will a move be approved if Quantum are successful in paying incentives?
Regards
Bigals