Updated September 2017
What is it?
The Land Rent Scheme is part of the ACT Government's Affordable Housing Action Plan. The Land Rent Scheme gives potential lessees who are looking to build a home the option of renting land through a land rent lease rather than purchasing the land.
Who is eligible?
From 1 October 2013, entrance to the Land Rent Scheme was restricted to low to moderate income households eligible for the discount land rent rate of 2 per cent. For Land Rent Crown Leases first granted under a contract entered into on or after 1 October 2013, the standard 4 per cent rate of land rent is no longer available.
A successful applicant for the current Land Rent Scheme (transaction date on or after 1 October 2013) must comply with various eligibility criteria including:
- The total annual income of all lessees and their domestic partner/s must not exceed the relevant threshold amount;
- Lessees cannot own any other real property;
- At least one of the lessees must reside in the property once a Certificate of Occupancy has been issued.
- Applicants for a land rent block must also attend a CIT information session
The Land Rent Scheme applies to the purchase of single dwelling residential blocks, previously unleased land identified as Land Rent blocks by the Land Development Agency.
For more detailed information, including current eligibility requirements, thresholds, restrictions on transfers and the annual review process go to ACT Revenue Office website - Land Rent Scheme
How do I apply?
- Applicants for a land rent lease must attend the CIT Information Course:
Phone the CIT Information Line on (02) 6207 3188 or email firstname.lastname@example.org
- Applicants are encouraged to seek independent legal and financial advice on the Scheme.
- Application forms are available at ACT Revenue Office website - Land Rent Scheme
ACT Revenue Office Contact Centre
Phone: (02) 6207 0028
Monday, Tuesday, Thursday and Friday 9:00am to 5:00pm
Wednesdays 10:30am to 5:00pm