admin

Returning empty homes to Melbourne’s rental market could be life changing

Posted by | Latest News | No Comments

HomeGround Real Estate, a division of Launch Housing, is calling on owners of empty properties in the municipality to return 1,000 homes to the rental market.

Despite the current housing affordability crisis, more than 7,000 homes in the City of Melbourne municipality remain empty according to City of Melbourne demographic data 2013*. Returning just 14 per cent, or 1,000 homes, to the rental market would make a big difference to the growing number of people who struggle to find an affordable home in Melbourne.

HomeGround Real Estate is a not-for-profit real estate agency run by Launch Housing, one of Melbourne’s largest providers of housing and homelessness services. The innovative social enterprise aims to increase the stock of affordable housing for clients throughout Melbourne, securing affordable properties for low income tenants, including women and children escaping family violence.

Launch Housing Deputy CEO Dr Heather Holst said property owners leave homes empty for a variety of reasons but listing the properties with HomeGround Real Estate could make a big difference.

“More and more people on lower incomes are at risk of homelessness due to the lack of affordable rental properties in Melbourne. If you have an empty property in the City of Melbourne municipality please talk to us about bringing it back on to the rental market. It could make a huge difference to someone’s life.

“The benefits are huge. People who have otherwise been priced out of the market are offered more affordable private rental, and HomeGround Real Estate offers landlords expert property and tenancy management services that give them peace of mind, the opportunity to contribute to those in need of housing, and a ‘social return’ on their negotiated, discounted rental fee.”

The City of Melbourne made a one-off grant of $150,000, from its $2 million Pathways Innovation Package, to HomeGround Real Estate to contribute to activities that will increase the number of rental properties that are available to people experiencing homelessness within the municipality.

*Data source City of Melbourne Small Demographic Profile Reports https://www.melbourne.vic.gov.au/about-melbourne/research-and-statistics/Pages/city-residents.aspx

ENDS

To arrange an interview or photo opportunity:

Please contact Dara Peskin, Marketing and Communications Lead Launch Housing 0419 347 114 or email Dara.KahnPeskin@launchhousing.org.au

Spokespeople available for interview are:

  • Launch Housing – Dr Heather Holst, Deputy CEO, Launch Housing
  • Landlord who has a listed property with HomeGround Real Estate
  • A current HomeGround Real Estate tenant

 

BACKGROUND/FAST FACTS

  • HomeGround Real Estate, a division of Launch Housing, is an innovative social enterprise aimed at increasing the stock of affordable housing for our clients throughout Melbourne.
  • It is a not-for-profit property and tenancy management business and real estate rental agency.
  • The unique model is a win-win for landlords and tenants alike:
    • People who have otherwise been priced out of the market are offered more affordable private rental.
    • HomeGround Real Estate offers landlords expert property and tenancy management services that give them peace of mind, the opportunity to contribute to those in need of housing, and a ‘social return’ on their property investment (a negotiated, discounted rental fee).
    • The difference between the market return and the discounted return may be tax deductible.
  • To date, HomeGround Real Estate has secured more than 300 affordable properties for low income tenants, including women and children escaping family violence.
  • What our landlords and tenants say:
    • “There was no reason to leave my previous real estate company – I was satisfied with the service. Choosing HomeGround Real Estate was a moral and ethical decision – I wanted to make my choice count.” —Stephen, landlord
    • “HomeGround Real Estate gave me the opportunity to move on with my life and rebuild. I had been homeless for over one year. My daughter and I slept on couches and in unsafe housing. I had left a violent and abusive home but didn’t have a rental history. Even though I was working and had owned my own home I couldn’t provide rental references so I wasn’t able to get ininto the private rental market.” —Rachel, tenant.
  • For more information visit:
    • com.au

ATO Ruling Information

Posted by | Latest News | No Comments

Tax Ruling Information for Landlords

What is the ATO ruling?

The Australian Tax Office has made a class ruling that allows landlords who list their property with us at a discounted rental rate to claim the gap as a tax deduction at the end of financial year.

How does it work?

At the end of financial year HomeGround Real Estate will provide you with all of the documents you need to do your tax return – including a tax deductable donation receipt for the amount of rent you have deducted to provide a more affordable property to tenant/s. For example, if your property is worth $550 at market rent and you decide to list at lower rental rate of $450. We will provide you with a donation receipt for $5200, this is made up of the $100 per week in rent you have foregone and you will receive a receipt Launch Housing (our parent organisation) with the total amount.

How does it benefit me?

  • The tax ruling is not designed as a financial incentive but it does recognise your contribution by allows you to claim the gap between market rent and any discount you decide to offer.
  • HomeGround Real Estate is a social enterprise of Launch Housing –one of Melbourne’s largest providers of housing support services to people experiencing or at risk of homelessness. Our mission is to end homelessness and our not-for-profit real estate agency is an innovative model assisting us in creating more affordable housing for Victorians.
  • For landlords choosing to list their property with us at market rate and only use our property management services. When you list your property with us the management fees go into supporting Launch Housing homelessness services.
  • If you choose to list your property at a discount of just 10% off the market rent you can make housing affordable for Victorians who are otherwise priced out of the market and at risk of homelessness.
  • Please contact your financial adviser or tax accountant for more detailed advice on how this ruling might apply to you and your financial situation. Here is a link to the ATO ruling online that your accountant/adviser can refer to https://www.ato.gov.au/law/view/pdf/pbr/cr2016-042.pdf

Not for profit real estate agency in Melbourne to support homeless (The Age)

Posted by | Media coverage | No Comments

“A Melbourne housing service for the homeless has called on the public to support an unusual concept: a not-for-profit real estate agency.The-Age_logo

Landlords will be able to choose to have their property managed by HomeGround Services, with the agent’s commission funding housing for the disadvantaged.

HomeGround chief executive Heather Holst said the agency, HomeGround Real Estate, had received its state government licence and will be open  by February.”

Read the full article here.
Get a Free Property Management Quote Get Your Quote