Syd your.abc.net: Ashley Fenn and Story Email

syd your.abc.net: Their annual subsidies of up to 11,000 are delivered by Ethan Affordable Housing, which is run by Ashley Fenn, a one-time Victorian senate candidate for the conservative Family First party, according to Australian Broadcasting Corporation. Do you know more about this story Email 7.30syd your.abc.net.au Photo Liz Burkitt invested in Zest Apartments through the National Rental Affordability Scheme ABC News What is the NRAS National Rental Affordability Scheme established by Kevin Rudd in 2008Designed to provide cheap rent in new homes and apartment blocks for Australia poorNRAS invited Australian investors to purchase new property and rent it out for at least 20 per cent less than the market rate In return the government would pay them an 11,000 annual subsidy The scheme is managed by about 40 charities and for-profit companies chosen by the federal government Liz and Michael Burkitt bought two investment properties under the NRAS at a Darwin apartment complex called Zest. Key points Ethan Affordable Housing managed NRAS for investors in Zest apartments More than 12 investors experienced delayed payments through Ethan Affordable Housing Fears some investors may be forced to sell properties A number of families who invested in a Darwin property as part of the National Rental Affordability Scheme NRAS said they struggled to make ends meet because their government subsidies were being paid months, and sometimes more than a year, late. Ethan Affordable Housing was the charity responsible for receiving their payments from the government and passing it on to them. We ended up being owed 40,000 and it was incredibly stressful, Ms Burkitt, a stay-at-home mother, said. Every year, the money would arrive late. (news.financializer.com). As reported in the news.