It’s no secret there is a significant shortage of rental properties in Western Australia right now. But two incentive schemes to convert short-term rental accommodation and vacant properties into long-term rentals has seen hundreds of West Aussies find a home.
In the past 12 months more than 450 properties have been successfully converted into long-term rentals. That’s hundreds of families, couples, retirees and regional workers who now have a secure lease on a home for at least 12 months.
The Short-Term Rental Accommodation (STRA) Incentive Scheme and Vacant Property Rental (VPR) Incentive Scheme has been extended by the State Government to bring even more properties over to the long-term rental market.
Both schemes offer cash incentives to owners to transition their properties onto the long-term rental market. Successful STRA owners can expect to receive a $10,000 grant and those who own vacant property that qualify will receive $5,000.
To ensure more owners can benefit from the two incentive schemes, eligibility requirements have been broadened. This means those who may have owned or purchased a property for short stay use after the scheme first launched can now apply. And the same goes for anyone whose property has become vacant since the VPR scheme first launched.
Sound like something you want to apply for? There are some things you need to know. You won’t be eligible for the VPR scheme if you are not renting out the entire property. Whereas granny flats are still eligible for the STRA grant. Houses, apartments, villas and units are all potentially the perfect homes for both schemes.
In exchange for the grant, you are required to provide a minimum 12-month lease agreement to new, long-term tenants. Your new tenants cannot be family members, this includes step-family.
If you’re applying for the STRA incentive, there are set limits on how much weekly rent you can charged based on the location of the property.
You’ll also need an Australian bank account so Consumer Protection’s Grants team can pay you.
You have until 30 June 2025 to be paid to for helping West Aussies find a long-term rental home.
Full eligibility criteria, terms and conditions are available online – head to wa.gov.au and search which scheme you are interested in.
If you have questions about the incentive schemes, you can contact Consumer Protection on 1300 30 40 54 or email cpgrants@demirs.wa.gov.au
For further information on the STRA Incentive Scheme payment visit: https://www.wa.gov.au/organisation/department-of-energy-mines-industry-regulation-and-safety/short-term-rental-accommodation-incentive-scheme .
Vacant Property Rental Incentive Scheme payment visit: https://www.wa.gov.au/organisation/department-of-energy-mines-industry-regulation-and-safety/vacant-property-rental-incentive-scheme.