- Grants extended to incentivise short-stay and vacant properties to be added to the long-term rental market
- More than 400 new rental homes already created under the successful schemes
- Eligibility expanded to include newer short-stay properties
- Applications for Phase 2 of both schemes to open on 4 November 2024
As part of the Cook Government's ongoing reforms to boost housing supply and deliver more long-term rental properties, two innovative incentive schemes which have already provided hundreds of homes for Western Australians have been extended.
The Short-Term Rental Accommodation (STRA) Incentive Scheme and Vacant Property Rental (VPR) Incentive Scheme have successfully converted 429 properties into long-term rentals and will now be extended to unlock additional properties in the long-rental market.
Both the STRA and VPR schemes offer cash incentives to owners to transition their properties onto the long-term rental market. To qualify, owners are required to provide a minimum 12-month lease agreement to new, long-term tenants.
Since opening 12 months ago, the $10,000 STRA Incentive Scheme payment has added 332 new rental properties, while the $5,000 Vacant Property Incentive Scheme, which opened six months ago, has converted an additional 97 properties.
Applications for both schemes have been extended from November 2024 to 30 June 2025, with the aim of unlocking around 400 extra long-term rental properties for Western Australian families.
Applications under Phase 1 of both the STRA and VPR Incentive Scheme may still be made but there are now Phase 2 applications that can be made under new criteria.
Eligibility for the Phase 2 STRA Incentive Scheme has been expanded to cover eligible short-stay properties occupied or advertised between 22 September 2024 and 3 November 2024.
To qualify for the for Phase 2 of the VPR Incentive Scheme, a vacant property must have been vacant for the six-month period between 4 May 2024 and 3 November 2024.
Applications for both of the Phase 2 incentive schemes open from 9am on 4 November 2024.
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 and for information on the 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 .
As stated by Commerce Minister Sue Ellery:
"We are confident we can keep delivering results by extending these two schemes to provide even more housing opportunities for Western Australians.
"To ensure more owners can benefit from the STRA Incentive Scheme, we have broadened our eligibility requirements. This means those who may have owned or purchased a property for short-stay use after the scheme launched can now apply."
As stated by Treasurer Rita Saffioti:
"The response to both of these policy initiatives has been incredible, with more than 400 new rental homes freed up in the market for Western Australians.
"These are innovative policies that have delivered new long-term rental stock quickly and efficiently.
"Boosting housing supply remains a key priority for our Government, and we'll keep doing everything we can to ease pressure on the market - thinking outside the box with innovative schemes like these."
As stated by Housing Minister John Carey:
"Our Government is investing a record $3.2 billion in housing and homelessness measures and through a range of innovative reforms we're doing everything we can to bolster housing supply across the continuum in Western Australia.
"Through our Short-Term Rental Accommodation and Vacant Property Rental incentives alone, more than 400 properties have returned to the long-term rental market and are providing safe and secure housing for hundreds of Western Australians."
