New grant to help struggling tenants with rent hikes

With rent rises and evictions anticipated when the rental moratorium ends on March 28, the State Authorities has prolonged a serving to hand to eligible tenants.

It’s providing a grant of up to $2000 as a part of its Residential Rent Reduction Grant Scheme to help tenants who might battle to pay anticipated rent will increase when the moratorium ends.

To qualify for this help, tenants should be dealing with a big rent improve, better than the conventional market charge of 5 per cent a yr, and their landlord should agree to a fixed-term lease of at the least six months period ranging from the moratorium finish date.

The tenant may also want to be in monetary hardship by: being in receipt of a Centrelink cost (excluding JobKeeper); having lower than $10,000 in financial savings; and paying greater than 25 per cent of their earnings in rent per week.

Commerce Minister John Quigley mentioned the technique behind this and different monetary assist for tenants and landlords was to help easy the transition from the present emergency measures again to a traditional rental market.

“This rental help is geared toward offering an incentive for landlords to preserve rent will increase to an inexpensive stage and to keep present tenancies after the moratorium ends and at a time when tenants might be at their most weak,” he mentioned.

“We hope this motion will scale back the variety of evictions or unaffordable rent will increase that will come after March 28 and stop homelessness.

“It can permit tenants some respiration house to discover employment and get again onto their ft financially.”

Functions for the grant are anticipated to open in late February and might be processed by Shopper Safety.

This new initiative is further to the grants introduced in December 2020, which can pay 75 per cent of a tenant’s rent debt or rent waived, up to a most of $4,000, to the owner.

Functions for this grant are open and can shut on June 28, 2021.