Additional Support Announced for Government Rent Assistance Subsidy
In September 2023 the Australia Government announced changes to the Government Rent Assistance Subsidy increasing the maximum rate for Rent Assistance by 15 percent, with a predicted 1 million households with Rent Assistance set to benefit from the rate increase.
Rent Assistance subsidies may be available through Centrelink to individuals who require financial assistance due to low income and rent in the private market.
Updated Weekly Rental Subsidy Benefits
*Please Note: The above is a guide only. Hometown Australia strongly recommend residents make their own enquiries as each individuals circumstances and eligibility are different.
Rent Assistance is designed to help pay for rent and fees on your principal home and may apply to people living in caravans, boats, mobile, or manufactured homes. All cases may vary in terms of eligibility. Whilst living in a Hometown Australia Community home you may be eligible for Rental Assistance which will subsidise the site rental you pay to live in the community. Whilst the site rent will vary by community the subsidy is determined by two factors: the rent you pay and the individuals’ eligibility with Centrelink.
What are the Financial Benefits of Living in a Land Lease Community?
One of the main questions asked is “what is the difference between living in a land lease community verse a retirement village?” One of the main differences are the financial benefits of living in a land lease community compared to a retirement village, due to the Land Lease Living Model.
The financial benefits of living in a land lease community include:
- No stamp duty payable
- No council rates
- No deferred management fees that can be part of moving into, or out of, a retirement village
- You may be eligible to claim Commonwealth Rental Assistance
- You also retain 100% of your capital gains as a cash profit when you sell your home. In many retirement living options, your agreement may force you to share your capital gains with the retirement village management or in some cases the manager may receive all your capital gain on sale. Living in a Hometown Australia land lease living community means that more money stays in your pocket.
Understanding Land Lease Living
Hometown Australia’s communities can also be referred to as land lease living communities. This means residents own the dwelling and have a long-term lease over the land on which it stands. Hometown Australia offers both resort and boutique style communities, providing true value for money, without the high entry and exit fees often associated with other retirement living options. To learn more about land lease living visit the website here.
