Affordable rental is considered to be up to 30% of a person’s income. However, for lower-income earners, few rental properties fall within this range, leading to the stress and hardship associated with unsustainable rent payments and the uncertainty of temporary living arrangements.
That’s why HomeGround Real Estate gives rental providers the opportunity to offer low-income households a discount on the market rent. Even a 10% discount on market rent can make a big difference to a low-income individual or household and help create more affordable housing in Melbourne.
By listing your property with HomeGround Real Estate at below-market rent, you will receive the same quality and professional property management service offered to rental providers who require a market rent return.
The only difference is that you will contribute to Launch Housing‘s vision of ending homelessness by directly assisting a household experiencing rental stress into affordable housing.
1. Quality property and tenancy management services for property owners who are willing to forego a percentage of their rental income to provide affordable rental to low-income renters. Affordable rental is considered to be up to 30% of a person’s income (often around 75% of market rent). Rental rates and management fees will be negotiated with property owners. These properties will be listed on our website and online at realestate.com.au. Only eligible renters will be considered.
Find out more information regarding eligibility for the Affordable Housing Initiative.
2. A philanthropic rental management program for property owners who grant assets to Launch Housing as a philanthropic gesture (on a short, medium and/or long term basis). The properties we manage under these guidelines will be used to house people who have been unable to access permanent accommodation and are at risk of becoming homeless. Rent will be charged based on the affordable rental guidelines and the rent received by HomeGround Real Estate will be used to support renters and maintain properties as agreed with owners.