GET YOUR $5,000 INCENTIVE TODAY

The Vacant Property Rental Incentive Scheme offers a $5,000 grant to owners of vacant residential properties in Western Australia, to transfer their property to the long-term rental market for at least 12 months to support people seeking a rental home.

LET US ASSIST YOU TO APPLY


AM I ELIGIBLE?

To be eligible, applicants must meet all the below requirements:

  • Your Property was vacant from the 8th of November to the 7th of May, 2024.
  • Your property has not been used as a principal place of residence.
  • Your property has not had a short-term accommodation during this period.
  • Your property has not had a tenant during this period.
  • You are prepared to enter in at least a 12-month residential tenancy agreement commencing by the 6th of November 2024.
  • You have an Australian bank account where payments can be made into.

You would not be eligible if any of the below are applicable to you:

  • You are not the owner of the property.
  • You are not renting out the entire property i.e. only renting out one room.
  • Your property was subject to a residential tenancy agreement anytime during the vacancy period.
  • Your property was advertised or booked as short-term rental accommodation anytime during the vacancy period (i.e. there was a financial gain for you).
  • You have received a payment under the Short-Term Rental Accommodation Incentive Scheme for the property.
  • The property was used as the owner or co-owners’ principal place of residence anytime during the vacancy period.

faq’s

What is the Vacant Property Rental Incentive Scheme?

The Vacant Property Rental Incentive Scheme offers a $5,000 grant to owners of vacant residential properties in Western Australia, to transfer their property to the long-term rental market for at least 12 months to support people seeking a rental home.

Can I make the application for someone else?

No, the owner of the property must make the application and complete the declaration within the application process.

What is the application closing date?

Applications must be submitted by midnight 6 November 2024.

What is considered a holiday home?

A holiday home is a property that people own for short stays, temporary retreat, or relaxation. It is owned in addition to their usual principal place of residence.  It cannot be used as an alternative residence where you simply split your time between two places. If your property was used as a holiday home without any financial gain to you during the vacancy period, it may still be considered vacant for the purpose of this scheme.

What if the tenancy is terminated before the 12-month lease ends?

If the tenancy terminates, to avoid the possibility of having to repay the monies, the property must be re-let on the long-term rental market. The total of the tenancy periods needs to still be at least 12 months, and any gaps in the tenancies must not exceed six weeks.

Can the rent be increased during the 12-month lease?

Yes, any rent increase must comply with the Residential Tenancies Act 1987 (WA) and the terms of the residential tenancy agreement.

Is the Vacant Property Rental Incentive Scheme payment subject to tax?

Yes, the Vacant Property Rental Incentive Scheme payments are considered to be taxable income. We recommend you seek independent professional advice on your taxation obligations.

If I enter into a residential tenancy agreement and the start date is in the future, when would I be eligible for the payment?

Eligible applicants are entitled to the incentive payment once the tenancy has commenced, not when the residential tenancy agreement is executed. It is a requirement that the tenant has taken up occupancy of the property to be eligible for the scheme as the 12-month tenancy extends from the occupancy date not from the date the agreement was entered into. The tenancy must commence by 6 November 2024.

I have a property in regional Western Australia, can I apply?

Yes. If you have an eligible property in any part of Western Australia, you can apply to the Vacant Property Rental Incentive Scheme.

What if the property is owned by a business, corporation, organisation or trust?

If the property is owned by a business, corporation, organisation or trust, then you will need to provide evidence that you have authority to act on behalf of the Trust or Company. This must be submitted with your application.

Do I need to have owned the property for the entire vacancy period?

Yes, you need to have owned the property for the entire vacancy period and you must be the current owner to apply. Please also see “What if I sell my property before the end of the 12-month tenancy period?” below.

What if I sell my property before the end of the 12-month tenancy period?

If you sell the property before the conclusion of the tenancy, you have not met the conditions of the grant guidelines and terms and conditions. The State may require the applicant to repay a grant paid to the applicant as per section 2.5 (f) of the terms and conditions.

How is the Vacant Property Rental Incentive Scheme payment paid?

The Vacant Property Rental Incentive Scheme payment will be made to the bank account you nominate in your application. However, payments will only be deposited in Australian bank accounts.

Where do I find information on how to manage a long-term rental?

To manage your new rental, Call PWC Realty at 0429 092 110 today!

WHAT OUR CLIENTS SAY

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