Deadline extended for WA rental incentives
WA property owners now have until the end of the year to apply for financial incentives for switching their vacant or short-stay properties into the long-term rental market.
Western Australia has extended its short-term rental accommodation (STRA) and vacant property rental (VPR) incentive schemes, both of which offer cash incentives to owners who switch their short-stay or vacant properties to the long-term rental market.
Although the application window for both schemes was originally specified to end on 30 June 2025, applicants for both schemes will now be considered until 31 December 2025, or until funds are exhausted.
The STRA and VPR incentive schemes offer cash incentives to owners who convert their short-stay or vacant properties to the long-term rental market, provided they offer a minimum 12-month lease to new tenants.
The same criteria will apply to both schemes, meaning that only self-contained dwellings will be considered, and the property must be tenanted for the full minimum lease period to receive the $10,000 STRA incentive or the $5,000 VPR incentive.
Commerce Minister, Dr Tony Buti, said the two incentive schemes had been extended to unlock more homes for renters in Western Australia.
“By extending these two key schemes, we’re confident we can keep providing more housing options across the state,” Buti said.
The Western Australian government said the STRA incentive scheme has added 457 new rentals since it opened in November 2023, while the VPR scheme has converted an additional 249 properties since its launch in May last year.
Treasurer Rita Saffioti said the extended schemes are “innovative policies” that will continue to boost the amount of long-term rental stock across Western Australia.
“Adding more than 700 homes is a fantastic outcome and extending the schemes will provide more opportunity for people to access the incentives and get their homes back onto the long-term rental market,” she concluded.
The extension of Western Australia’s short-term rental incentive comes after Victoria’s 7.5 per cent levy for STRs came into effect on 1 January, which elicited concerns around the potential impact on the state’s tourism sector.