- What is the National Rental Affordability Scheme or NRAS?
The majority of Venture’s properties fall within the National Rental Affordability Scheme (NRAS). NRAS is an Australian Government initiative which aims to increase the number of new and affordable rental properties, throughout Australia. It provides an annual incentive to property owners and housing providers who supply affordable rental dwellings at 20% or more below market rent.
- Does Venture Housing have a waiting list?
No, due to the requirement to physically view a vacant dwelling prior to entering into a Residential Tenancy Agreement, Venture does not keep a waiting list. Venture does, however, keep a list of expressions of interest and will advise anyone on that list of upcoming vacancies. Please subscribe using the form at the bottom of this page to receive vacancy updates.
As vacancies arise, we advertise them on our Facebook page, here on this website and on Realestate.com.au. The vacant property will be made available for viewing and Venture will accept applications for that property once it has been viewed.
- Are Venture properties Public Housing?
No, Venture is an independent not-for-profit and our properties are tenanted in a similar way to that of a private rental. However, Venture tenants benefit through a reduced rent. The application process and tenancy is the same as if you were renting through a local agency with a private landlord. The difference is Venture owns and manage all the properties which are under the NRAS Scheme and are thus able to rent them at a reduced rate.
- What types of accommodation does Venture have?
Venture owns 160 properties in total. These consist of:
- 15 x 1 Bedroom Units
- 88 x 2 Bedroom Units
- 20 x 2 Bedroom Townhouses
- 22 x 3 Bedroom Units
- 16 x 3 Bedroom Townhouses
Venture Head Leases 10 Senior Units –
- 5 x 1 Bedroom Units
- 5 x 2 Bedroom Units
Venture will shortly have an additional 12 properties;
- 12 x 3 Bedroom Units of which 4 are Specialist Disability Access (SDA)
Venture will be managing a further 4 independently owned SDA properties;
- 2 x 3 Bedroom Units
- 2 x 2 Bedroom Units
- How is rent calculated for Affordable Housing tenants?
In accordance with NRAS, Venture obtains a market rental valuation on all its properties from a registered Property Valuer. Venture then determines the rent, which must be under seventy-five (75%) of the market rental valuation, in order for it to retain it's charity status.
Furthermore, Venture monitors the local private rental market and regularly reviews its rents to ensure that they meet the NRAS guidelines and Venture’s social objectives.
- In addition to the rent, what other costs are tenants expected to pay?
At the commencement of a tenancy, the tenant must pay four (4) weeks’ rent as a bond and the first two weeks’ rent. The tenant is also responsible for connecting and paying for electricity, phone and internet and any contents insurance. For some of our properties, tenants may also be required to pay for the water and any expenses incurred to maintain your garden. Tenants are responsible for any costs incurred in replacing light globes, cleaning air conditioner filters and for pest control. If tenants lock themselves out of their property outside of business hours and require a locksmith or require any additional keys or fobs, this will be at the tenants' expense.
Venture will cover all expenses in maintaining a tenant's property as long as the damage is fair wear and tear. Should a contractor make an appointment to attend a tenant's property it is the tenants responsibility to ensure the contractor has access, either by being present to let the contractor in or providing permission for the contractor to have key access. If the tenant does not make the appointment or does not cancel with the contractor a call out fee will be charged to the tenant.
- What documents will I need to provide for my application?
The following documents are required for your application to be assessed. As these can often take time to collect, we recommend, should you wish to rent through Venture, that you collect these in advance, as this will allow you to apply as soon as a property becomes available:
- Proof of Australian residency – Passport, Citizenship Certificate, Birth Certificate or Visa documents
- Additional Proof of Identity up to 100 points, see application form for more details
- Proof of income – Six (6) most recent payslips from date of application, latest Tax Assessment Notice, current Centrelink Statement, Bank Statements and any other evidence of income.
- Venture also requires that you provide employment, rental and personal references on your application. Please let your referees know to expect a phone call from Venture.
- What is a residential tenancy agreement?
A residential tenancy agreement is a legally binding written contract between you, as a tenant or resident, and a property landlord. It is also commonly called a lease. The legislative responsibilities of tenants and landlords are outlined in the Residential Tenancies Act.
Please make sure you read it carefully and ask any questions that you may have before signing it.
- What is required in a Tenancy Agreement?
- the name and address of the tenant, and the property manager/owner or provider
- the date which the agreement starts and ends (or state that the agreement is periodic)
- details about how the tenant should pay the rent and how much rent is to be paid
- details about what the tenant and the property manager/owner or provider can and cannot do, known as 'standard terms'
- any special terms (these should be agreed in advance, e.g. that pets are allowed but must be kept outside or will necessitate carpet cleaning)
- The length and type of tenancy - either a fixed term agreement where the tenant agrees to rent the property for a fixed term such as 6, 9, 12 months or a periodic agreement when a tenant / resident lives there for an indefinite period (please note that all of Venture’s agreements are for a fixed term)
- the amount of bond required
- other conditions and rules.
- What is a bond?
A bond is a separate payment of four (4) weeks rent held as security for the landlord or owner in case you do not meet the terms of your lease agreement on vacating. This money is paid to Venture and held in trust before the property is handed over to the tenant.
At the end of your agreement (i.e. tenancy), if the property is in need of cleaning or repairs or if items need to be replaced, the landlord or owner (i.e. Venture) may claim some or all of the bond. Bond will be returned within seven (7) business days of the date of when keys are handed back and final possession is provided to Venture.
- What is a condition report?
When you sign your lease, you will receive a condition report prepared by Venture. This lists the general condition of the property, including fittings and fixtures. It is important that you carefully check the condition report and make sure it includes any existing damage or issues with the property. We suggest taking photos of the property before your move in and provide a copy of these photos to Venture, as a record of the property’s original condition. The signed condition report must be returned to Venture within five (5) business days.
Legislation allows tenants five(5) days to check the details completed by the agent/owner (Venture) on the condition report, and to confirm or disagree with those details. As the condition report may be used as evidence, if there is a dispute about who is responsible for cleaning, damage or the replacement of missing items at the end of the tenancy, please ensure you go over it in fine detail.
If you do not agree with what is stated on the condition report please note it on the appropriate section of the document. You must complete the inspection report and return it to the agent/owner (Venture) within the specified number of days or the condition of the property is deemed to be in accordance with the Property Manger’s original completion. If you need additional assistance, please do not hesitate to contact Venture staff.
Please make sure that both you and the Property Manager agree on the contents of the condition report before signing it.
- What is a routine inspection?
Your Property Manager will carry out three-monthly routine inspections of the property to ensure it is clean and tidy, and to identify any routine repairs that may be required. The inspections seek to ensure the following outcomes:
- The property is being maintained in a clean and tidy condition.
- The grounds are being maintained in a clean and tidy condition.
- The property is not being damaged in any way.
- There are no more than the number of people specified on the tenancy agreement living at the property.
- No pets are housed at the property, unless this is agreed to on the lease
- The identification of any maintenance issues and how they will be addressed.