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NRAS Property Management

Discussion in 'Property Management' started by hozi, 10th Oct, 2015.

  1. hozi

    hozi Member

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    19th Jun, 2015
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    Location:
    Sydney
    I know of one company Evolve Housing who deals in NRAS. Do people have any opinions on this company. Would like any information available regarding property agents who deal with NRAS in Sydney.
    How easy would it be to change property management of the NRAS
    Also is there a standard list of what a property manager of a NRAS does different to a normal property manager.
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    5,600
    Location:
    Adelaide, SA
    Hiya,

    Can't contribute any feedback on Evolve as I haven't dealt with them. But may be able to help with your other questions...

    NRAS property management involves:
    - All the normal property management stuff, plus
    - Verifying tenants income levels at various points along the way to ensure they're eligible (and stay eligible),
    - Having a licensed valuer go through at the times specified to identify market rent (and confirm charging 20% less than market)
    - Inquire the annual rental CPI figure as this relates to the amount the rent can be increased

    You need to be very careful that all the compliance stuff above is done, because otherwise your property can be deemed as non conforming and you don't get the annual govt payment.

    Changing NRAS Property Management wouldn't be any different to changing a regular PM I'd think, check with @euro73 as he deals with NRAS properties a lot.
     
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  3. euro73

    euro73 Well-Known Member Business Member

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    Location:
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    Evolve Housing ( who are actually called Affordable Community Housing Limited, trading as Evolve Housing) are a Community Housing Provider ( CHP) based in Parramatta. Unlike the "for profit" NRAS participants such as Questus, AMC, QAHC, Ethan , Aspire, Quantum, etc... Evolve are a public service organisation. There are others just like them - Bridge Housing, Hume Hosuing, St George Community Housing and others...

    They manage a very large number of affordable housing and social housing dwellings, and are now also starting to manage NRAS dwellings.

    Their fee model is not much different to the "for profit's" and they are well resourced with ample staff... I have had some experience dealing with them and with OTHER CHP's and wouldnt have much confidence in many of the others .. but in my dealings with Evolve they have seemed competent.

    Where is the NRAS dwelling you are purchasing?
     
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  4. hozi

    hozi Member

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    19th Jun, 2015
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    Location:
    Sydney
    Thanks for the reply.
    The NRAS dwelling purchased in Constitution Hill NSW
     
  5. euro73

    euro73 Well-Known Member Business Member

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    Location:
    Sydney
    If Evolve is the NRAS approved participant, they are also the tenancy manager.