❓ Hon Tim Clifford asks about the long-term impact of rental incentive schemes after the initial 12-month lease period, seeking data on lease renewals and ongoing tenancy.
AnsweredQoN 1225Legislative Council
QuestionView source ↗
Housing—Rental incentive schemes
1225. Hon Tim Clifford to
the parliamentary secretary representing the Minister
for Commerce:
I refer to the Short-Term
Rental Accommodation (STRA) and Vacant Property Rental (VPR) incentive schemes
providing $10,000 and $5,000 respectively to owners who commit to a minimum
12-month lease, which were recently extended until 28 February 2026. We are
told that 810 homes have been transitioned to long-term leases.
(1) What provisions have been made to determine
what happens to those homes when the 12-month leases are completed?
(2) How many out of the 810 homes were
transitioned more than 12 months ago?
(3) Out of the homes that transitioned more than 12
months ago, how many are still under long-term leases?
1225. Hon Tim Clifford to
the parliamentary secretary representing the Minister
for Commerce:
I refer to the Short-Term
Rental Accommodation (STRA) and Vacant Property Rental (VPR) incentive schemes
providing $10,000 and $5,000 respectively to owners who commit to a minimum
12-month lease, which were recently extended until 28 February 2026. We are
told that 810 homes have been transitioned to long-term leases.
(1) What provisions have been made to determine
what happens to those homes when the 12-month leases are completed?
(2) How many out of the 810 homes were
transitioned more than 12 months ago?
(3) Out of the homes that transitioned more than 12
months ago, how many are still under long-term leases?
AnswerView source ↗
I thank the member
for some notice of the question. I answer on behalf of the Minister for
Commerce.
(1)–(3) Regarding the Short-Term Rental
Accommodation (STRA) incentive scheme, an assessment is made at the 12th month
of the rental agreement to ensure that the applicant remains eligible at the
time and that a valid tenancy was in place before the second instalment payment
is made. In relation to the Vacant Property Rental incentive scheme, a one-off
payment is made at the beginning of a qualifying tenancy. Prior to 4 December
2024, 506 properties had converted to a long-term lease.
for some notice of the question. I answer on behalf of the Minister for
Commerce.
(1)–(3) Regarding the Short-Term Rental
Accommodation (STRA) incentive scheme, an assessment is made at the 12th month
of the rental agreement to ensure that the applicant remains eligible at the
time and that a valid tenancy was in place before the second instalment payment
is made. In relation to the Vacant Property Rental incentive scheme, a one-off
payment is made at the beginning of a qualifying tenancy. Prior to 4 December
2024, 506 properties had converted to a long-term lease.
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