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A new incentive scheme for property owners to fill empty homes will be rolled out in Western Australia.
The Cook government is hoping to lift exceedingly tight vacancy rates in Perth and beyond by encouraging property owners with vacant homes to offer them up as long-term rentals.
Under the scheme, anyone who is willing to offer a minimum 12-month lease agreement on a property that has been sitting empty for at least six months can apply.
The news follows a similar approach by the government to convert short-term rentals to the long-term market, with a scheme announced in November offering $10,000 to property owners who apply and qualify. So far, a reported 150 owners have applied, with the scheme extended through November, though it was due to close in May.
This latest grant will be available to 1,000 applicants, with payment to be made once the dwelling has been leased and occupied.
To qualify, the property in question must meet some requirements:
- It has been vacant for at least six months.
- It is a single self-contained property with its own bathroom, kitchen and toilet (spare rooms or ancillary buildings, like granny flats, will not be eligible).
- It has not been used to receive payment under the STRA Incentive Scheme.
In addition, the property must be tenanted for the full period of the minimum 12-month lease. If the lease is broken during that time, the property must be re-let on the long-term market within six weeks for the owner to avoid having to repay the grant money.
Premier Roger Cook described this initiative as part of his “no stone unturned” approach to tackling the state’s housing issues.
“Modelled on our successful Short-Term Rental Accommodation Incentive Scheme, this latest offer is designed to address the issue of much-needed properties sitting vacant and make them available for rent,” he said.
Treasurer Rita Saffioti added that the government was “thinking outside the box with innovative policies and schemes like this”.
“I certainly encourage any eligible home owner with a vacant property to consider taking this up,” she said.
The latest news comes on the heels of the state’s passage of a law requiring all STRA accommodation in Western Australia will be required to be included on a state register. Additionally, Perth properties will be limited to being rented out as short-term accommodation for no more than 90 days per year.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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