The Rental Sales Scheme is open to eligible Housing Authority tenants who are interested in purchasing their rental property.
Benefits offered to purchasers
Purchasers will receive a grant of up to $3,000 for stamp duty and settlement fees.
Should these costs be less than $3,000, they will be fully paid for by the Housing Authority and if they are more, the purchaser will only pay the amount over $3,000.
Purchasers will receive a discount for certain approved capital improvements they have made to the property.
Family members can assist with the purchase regardless of whether they own their property or not.
Eligibility
To be eligible for the scheme you must have:
- A minimum period of three years continuous tenancy with the Housing Authority
- No interest in any lot of residential land (improved or unimproved)
- No current arrears or other debts to the Housing Authority (including water consumption debts) at the time of application and settlement
Available properties
- The Housing Authority will approve the sale of a property, providing it is available for sale
- Transfer to purchase option - If current property is unavailable you may be offered another property providing one is available and you have chosen the transfer to purchase option in your application
- A property will only be sold if it has its own title at the time of application.
How to purchase a property
If you are interested in purchasing your rental property, you will first need to obtain finance pre-approval, then completed the provided form and send it along with your deposit of $150 (made payable to the Housing Authority) to:
Rental Sales Scheme
Housing Authority Bag 22
East Perth WA 6892
Once your application is received the Housing Authority will decide whether the property is available for sale.
If the property is unavailable for sale and you have not chosen the transfer to purchase option, your application will be withdrawn and your deposit will be returned to you. Please note that the Housing Authority’s decision in this matter is final and there is no appeal process.
If you have chosen the transfer to purchase option, the Housing Authority will endeavour to find another property for you in your price range. This process may take up to three months. If another property is available you will be advised accordingly. If no other property is available within three months, our application will be withdrawn and your deposit will be returned to you.
When a property is available for sale, its market value will be determined. Any capital improvements you have made that have increased the market value, such as a kitchen renovation, the addition of a patio or carport, or other items from the approved list will be counted. Landscaping, painting and other maintenance items are not included. The purchase price will be the market value less the amount allowed for improvements.
The Housing Authority will then make you a written offer and you will be given 30 days to accept the offer and provide proof of identity. A contract will then be written up so you can arrange the finance approval for your loan.
Upon receipt of your finance approval, settlement of the sale will follow within 30 days.
Please note that should you not accept the Housing Authority’s offer and wish to withdraw your application, your deposit of $150 is non-refundable and will be retained by the Housing Authority. The reason for this is to assist in recovering the costs incurred by the Housing Authority for the valuation fees.
Obtaining a home loan
To finance the purchase of your home you may approach a bank, building society, credit union or the Keystart Home Loan Scheme (contact Keystart on 1300 720 855).
They will assess whether your income is high enough to meet the loan repayments. The size of any other financial commitments you may have (for example, a car loan) will also affect their decision.
The Rental Sales enquires number is - (08) 9222 8148. Country callers can phone Toll Free 1800 093 325 and ask for Rental Sales.