Invest
Investors caught up in messy battle with housing group
A housing group is facing allegations of unconscionable conduct and false, misleading or deceptive conduct relating to the National Rental Affordability Scheme (NRAS).

Investors caught up in messy battle with housing group
A housing group is facing allegations of unconscionable conduct and false, misleading or deceptive conduct relating to the National Rental Affordability Scheme (NRAS).

The Australian Competition and Consumer Commission (ACCC) has kicked off proceedings in the Federal Court against Quantum Housing Group Pty Ltd (Quantum).
The ACCC alleges unconscionable conduct and false, misleading or deceptive conduct relating to the NRAS.
The NRAS is a government-backed scheme that aims to reduce rental costs for low to middle-income households and ensure the availability of more affordable homes on the market.
Quantum is an approved participant of NRAS. This means it is entitled to receive incentives under the scheme and is responsible for ensuring NRAS dwellings are compliant with the scheme.
The allegations
The ACCC alleged that from February 2017 to July 2018, Quantum pressured property investors participating in the NRAS to terminate the arrangements with their existing property managers.
It also alleged that Quantum pressured investors to retain property managers recommended or approved by Quantum, and which had commercial links to Quantum.
The ACCC also alleged that Quantum made false or misleading representations to investors and property managers about its own rights, on top of the potential losses investors would face if they did not use Quantum’s approved property managers.
According to the ACCC, the housing group also issued guidelines to investors and their existing property managers setting out how property managers could become approved by Quantum. The guidelines required property managers to pay a $10,000 deposit to Quantum for each NRAS property they managed, the ACCC said.
What the ACCC has to say
“Payment of the $10,000 per property would mean that managing any NRAS property would have been completely unviable for many property managers,” ACCC chair Rod Sims said.
“Quantum’s alleged conduct meant that investors could not select a property manager who best suited their needs, and many property managers suffered a significant loss of business as a result.”

Property
Labor’s ‘Help to Buy’ scheme not without its risks
With Anthony Albanese sworn in as Australia’s 31st PM, home buyers are excited at the prospect of accessing the new ‘Help to Buy’ scheme, but a property expert has warned that the risks may be g...Read more

Property
Australia's housing market is entering a ‘broad-based correction phase’
Westpac believes the housing market downturn is now underway. ...Read more

Property
ANZ now expects house prices will end the year lower
With higher interest rates on the horizon, the bank is forecasting larger house price declines than previously expected. ...Read more

Property
Which capital cities are most attractive to property investors?
A new survey has suggested that investor attention is shifting away from Australia’s two largest capital cities. ...Read more

Property
Market uncertainty fails to discourage foreign property investors
While interest from foreign investors in Australian property has remained strong, HLB Mann Judd warned that tax increases could see demand shift to other markets. ...Read more

Property
Regional renters forced to spend more of their income than ever before
Renters in regional areas are spending nearly as much on rent as home owners are spending on mortgage repayments. ...Read more

Property
Aussie home buyers now need to save for over 11 years for a deposit
Since early 2020, the time needed to save for a deposit has increased by more than two years. ...Read more

Property
HSBC forecasts 2023 house price decline of up to 10%
The firm had previously predicted a modest rise for house prices next year. ...Read more

Wrapping up an eventful 2021
Listen now

What Omicron means for property, and are units right for first-time buyers? What is equity crowdfunding? Are industry super funds tapping into member funds to save their skins?
Listen now

Will housing affordability improve in 2022? Will buy now, pay later become the norm? Why are Aussies staying in failing super products?
Listen now

Who really benefits from crypto ETFs? How will the RBA respond to rising inflation? Could a mandate help address unpaid super?
Listen now

Property
Labor’s ‘Help to Buy’ scheme not without its risks
With Anthony Albanese sworn in as Australia’s 31st PM, home buyers are excited at the prospect of accessing the new ‘Help to Buy’ scheme, but a property expert has warned that the risks may be g...Read more

Property
Australia's housing market is entering a ‘broad-based correction phase’
Westpac believes the housing market downturn is now underway. ...Read more

Property
ANZ now expects house prices will end the year lower
With higher interest rates on the horizon, the bank is forecasting larger house price declines than previously expected. ...Read more

Property
Which capital cities are most attractive to property investors?
A new survey has suggested that investor attention is shifting away from Australia’s two largest capital cities. ...Read more

Property
Market uncertainty fails to discourage foreign property investors
While interest from foreign investors in Australian property has remained strong, HLB Mann Judd warned that tax increases could see demand shift to other markets. ...Read more

Property
Regional renters forced to spend more of their income than ever before
Renters in regional areas are spending nearly as much on rent as home owners are spending on mortgage repayments. ...Read more

Property
Aussie home buyers now need to save for over 11 years for a deposit
Since early 2020, the time needed to save for a deposit has increased by more than two years. ...Read more

Property
HSBC forecasts 2023 house price decline of up to 10%
The firm had previously predicted a modest rise for house prices next year. ...Read more