How to turn your empty house into $5,000

How to turn your empty house into $5,000

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If you’ve been waiting for a reason to rent out your empty property, this is it.

The State Government will pay you $5,000 to bring your vacant house, apartment, villa or unit to the long-term rental market for West Aussies to lease.

There’s a significant shortage of rental properties available in WA, leading to tough competition among renters.

Leasing your empty property for at least 12 months provides a secure long-term home to tenants such as families, couples, retirees or regional workers.

To qualify for the $5,000 Vacant Property Rental Incentive Scheme (VPRIS) payment, the property must meet a number of conditions.

It must have been vacant for the entire period between 8 November 2023 and 7 May 2024, and it must be a single self-contained property, located in WA, with its own bathroom, kitchen and toilet – which means buildings such as granny flats are not eligible.

You also won’t be eligible if you are not renting out the entire property or if the property was on the short-term rental accommodation market.

There is still good news if your property was a holiday rental, as there is a six-month extension to the Short-Term Rental Accommodation (STRA) Incentive Scheme.

This means owners now have until 8 November 2024 to be paid for switching their property to the long-term rental market.

However, if your property was used as a holiday home without any financial gain to you during the vacancy period, you may still be eligible for the $5,000 VPRIS payment.

You will need to prove the property has been empty for the six-month vacancy period by providing supporting documentation.

This must include evidence of utility usage during the vacancy period such as a copy of utility bills and Consumer Protection will need to see a copy of the rates notices for your primary residence and the proposed rental property.

You’ll also need to provide a copy of the residential tenancy agreement that shows it will be rented for at least 12-months. Your new tenants cannot be family members, this includes step-family.

Want to know more about the Vacant Property Rental Incentive Scheme? Head to https://www.wa.gov.au/organisation/department-of-energy-mines-industry-regulation-and-safety/vacant-property-rental-incentive-scheme

If you have questions about the Vacant Property Rental Incentive Scheme, you can contact Consumer Protection on 1300 30 40 54 or email cpgrants@dmirs.wa.gov.au

Applications are open until 6 November 2024 unless grant funds are exhausted earlier.