Strong Plan to support investors and renters takes next steps

Felix Ellis,

The Rockliff Liberal Government is unlocking more affordable rentals for Tasmanians by boosting our Private Rental Incentive Scheme as part of the 2030 Strong Plan for Tasmania’s Future.

During the election, the Liberals committed to expanding the existing Private Rental Incentive Scheme from 300 to 500 homes, making more rental properties affordable for another 200 Tasmanian households.

Minister for Housing and Planning, Felix Ellis, said it is vital there are more affordable rental properties available for Tasmanians.

“We are moving immediately to expand this program, in line with our election commitment, because it’s a massive win-win,” Minister Ellis said.

“It means backing more Tasmanians to invest in property and more support for renting families with the cost of living.

“Our Private Rental Incentive Scheme is set to unlock aspiration and at the same time help an additional 200 households into affordable rentals.

“Rents will be between 25 and 30 per cent below median rates and in return investors will receive an incentive payment of up to $200 a week, guaranteed rental income for two years and fee-free property management.

“Homes Tasmania will now survey property owners to gauge interest in participation in the Private Rental Incentive Scheme.

“This will help us to understand the volume and location of houses we can bring to the long-term rental market.”

Parliamentary Secretary for Housing and Planning, Simon Behrakis, was buoyed by the announcement, saying that this is set to make an immediate difference for Tasmanians.

“Expanding this scheme is an important action to provide more relief and options for Tasmanian renters,” Mr Behrakis said.

“I am incredibly passionate about ensuring that Tasmanians have as many accommodation options as possible available to them – whether that be through new builds, incentivising development or through schemes just like this.

“We know it’s tough for many Tasmanians to secure a rental property in the current market, and our 2030 Strong Plan for Tasmania’s Future will have an immediate effect on many Tasmanians.”

/Public Release. View in full here.