NRAS Market Index for the 2020-21 NRAS Year
When your investment property is first available for rent, and at the end of the 4th and 7th years of your incentive period, a market rent valuation is completed to establish the market value rent of your property. This valuation is used to calculate the maximum rent that can be charged to your tenants, ensuring it does not exceed 80% of the market value rent.
In any other year, the market value rent is reviewed against the NRAS Market Index i.e. the maximum rent is calculated using the NRAS Market Index. Therefore, when your market rent valuation is due in the 2020-21 NRAS year, the market value rent and the maximum rent will be increased or decreased based on the NRAS Market Index rates, unless a valuation is due.
The market index for 2020-21 NRAS year (1 May 2020 to 30 April 2021) has been released by the Australian Government - click read more below to access the figures.