Residents facing homelessness threat as National Rental Affordability Scheme comes to an end

Tens of thousands of Australians fear they may soon be homeless as the Federal Government closes the door on a scheme that helps to provide housing to struggling low income earners.

The National Rental Affordability Scheme (NRAS) was introduced in 2008 and is aimed at increasing the supply of new and affordable rental dwellings, by providing an annual financial incentive to house owners to rent out their properties at a reduced rate.

As part of the scheme, the rental properties are offered for at least 20 percent below market rates, giving the most vulnerable Australians a helping hand and a roof over their heads.

However, the subsidies were only promised for 10 years and time is almost up for those who’ve relied on the financial assistance.

“Through no fault of our own we’re being thrust in to this position of where do we go what do we do,” Gold Coast aged pensioner, Pam, told A Current Affair.

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Source: 9 News