The Federal Court Orders Quantum Housing To Pay $700,000 In Penalties For Misleading Property Owners

  • Jun 11, 2020 AEST
  • Team Kalkine

The Federal Court has asked Quantum Housing Group Pty Ltd to pay $700,000 in the form of fine for the false or misleading representation related to the National Rental Affordability Scheme.

Between February 2017 and July 2018, a series of misleading letters and emails were sent by Quantum to at least 450 investors  who had rental dwellings contributing in the NRAS scheme and were pressurised to end their arrangements with their present property managers & in its place use property managers permitted or recommended by Quantum.

Quantum could not update investors about its commercial links with the property managers it recommended. Moreover, Quantum also told few investors that their current property manager had not appropriately handled their property’s compliance with the NRAS, which was incorrect.

 


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