RENT SAVER PROGRAMME
Rent Saver is a programme designed to help people save for a deposit, through providing secure tenure for 5 years and a savings incentive programme.
How it works
A qualifying household has the opportunity to rent a QLCHT owned property for a five year term. The rent is set at a fair market rate and a savings goal is agreed with the household. Each year, evidence of savings is requested and should the savings goal be met, QLCHT will match the savings up to $2,600 each year (or $13,000 over the five year term).
At the end of the five year term, the household is then able to apply for the Secure Home programme to purchase the house they have been renting, providing the standard Secure Home programme requirements are still met.
To be eligible to apply for the Rent Saver Programme applicants must meet the following basic criteria:
- The property must be used exclusively as the household’s primary residence and must not be vacated by the household for any more than four weeks over a 12 month period.
- The applicant's combined household income must not exceed a certain level, which is determined by the size of the household. Maximums will vary from $75,000 for a single person household to $106,000 for a five-person household.
- At least one person from the household entering into the Rent Saver Agreement must be a New Zealand resident or citizen.
- At least one person from the household entering into the Rent Saver Agreement must be in full time employment in the Queenstown Lakes District (full time is deemed as 30 hours per week or more).
View our template Rent Saver Agreement, Rent Saver Residential Tenancy Agreement and Rent Saver Applicant Acknowledgement and Commitment Form here. Please note that this is a template agreement only and may be subject to change.