The Secrets

What is rent assistance and how does it work?

Rent assistance is a non - taxable allowance provided by the Commonwealth as a supplement to income support payments to help eligible individuals/couples and sharers to meet the cost of private rented accommodation. Rent assistance is generally not payable to an income support recipient living in their own home. However, there are exceptions to this general rule that includes a resident that owns a manufactured home where they pay a recurring fee to the operator of the community for the site. The amount of rent assistance you will receive depends upon whether you are a couple or a single person. It will also depend upon the amount of the site fee. The Centrelink website includes useful information to help you work out how much you would be entitled to.

https://www.humanservices.gov.au/customer/services/centrelink/rent - assistance

Financial considerations

Although it shouldn ’ t be the sole factor in any housing decision you make, cost is, however an important consideration.

Although a straight comparison is difficult because these are different housing options with different forms of tenure, the entry and exit costs for a residential land lease community are generally considerably less than the costs associated with a retirement village or strata unit. As a result, when you buy into a land lease community you will be left with more money in your pocket to travel or invest as you see fit.

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