Affordable housing under ShelterSA real estate partnership
South Australia’s peak housing body has partnered with two real estate agencies to offer rentals at significantly reduced rates to combat the housing crisis.
Believe Housing Australia's 2024 rental affordability snapshot indicated rental affordability is at an all time low. File photo: Tony Lewis / InDaily
ShelterSA has partnered with Turner Real Estate and Cornerstone Housing under its Homes4Good program, which is currently offering 15 homes in South Australia for below market rent.
ShelterSA executive director Alice Clark told InDaily the program first came about in 2020 after she was approached by a number of homeowners wanting to connect with people experiencing homelessness.
“There was no platform, there was nowhere to send those people who wanted to help others, so we created Homes4Good,” Clarke said.
Under the programs, rentals are being offered as low as 56 per cent of market rent, with units in Kilburn at $255 a week, while market rent is $450.
ShelterSA first partnered with Cornerstone Housing, and have now been joined by Turner Real Estate to manage the rental homes.
“The basis is that…[they] will property manage rental homes as long as the owners are willing to accept a sub market rent,” Clarke said.
“It’s all aimed at assisting people living on low incomes, who might be locked out of the rental market, or they might be waiting for social housing, but the reality is they’re never going to get it.”
Homeowners involved in the scheme under Cornerstone Housing have been eligible for the Affordable Community Housing Land Tax Exemption Pilot, receiving an exemption from land tax payments.
The exemption pilot was introduced in March 2020 to run for five years and was limited to 100 properties in South Australia.
To be eligible for an exemption, rent must be less than 75 per cent of current market rent, tenants must not be related to the owner, and there must be an agreement between the property owner and a community housing provider.
Clarke said Turner Real Estate had applied for the exemption to apply to houses they will manage under Homes4Good, but are yet to hear.
Turner Real Estate CEO Emma Slape said she hoped to “engage with the government” to “explore potential incentives” for homeowners involved in the program.
Slape said there is “probably only around one to two per cent of properties” in the private rental market that meet the Homes4Good initiative.
“There are so many different parts to the rental market and whilst this may be a small percentage which meet the criteria, it is really meaningful for those involved,” she said.
