Have you considered becoming a NRAS property owner. NRAS - National Rental Affordability Scheme.
"NRAS is a new opportunity for government, debt and equity investors, property developers and not for profit housing organisations to work together to increase the supply of affordable private rental housing and create a new ongoing asset class in Australia." Department of Families, Housing, Community Services and Indigenous Affairs [12/10/2010]
NRAS is designed to achieve reduced rental costs for low and moderate income households uo to 30 per cent on market values on inner city high rise developments. The object to assit in the delivery of up to 50,000 new properties in a market where the government predicts 1.5 million households are eleigble to rent NRAS properties.
In return of landlord property investors providing rental property at a rental 20 per cent below the open market value NRAS investors investors are provided for a maximum period of 10 years tax free incentives. These are currently $9,524 per annum for each NRAS property owned.
The incentives indexed linked in line with the rental component of the housing group consumer price index and may be issued around June / July each year. Rental values are indexed annually in line with the percentage change in the rental CPI component, except in years four and seven where independent valuations are required.