We're property managers approved to take on NRAS properties. As some of you might know, after 4 years the NRAS Consortium organises a licensed valuer to go through and advise what the rent should be for the units. One of the units we manage just came up for this. The valuation came in $5 a week lower so we are forced to do a lease renewal at that amount to remain compliant (and non compliance means the owner doesn't get their $10k pa). The guy I deal with manages the PM's across SA and QLD and was saying all of them were coming in lower. This is one of the dangers of being in a government ran system instead of on the free market. Our normal (non-nras) properties we could at least keep them the same rent or negotiate a lesser increase if the market was poor (and I'm not convinced that it is).