By collaborating with private not-for-profit and for-profit partners including government at all levels, community-based organisations, market providers, and cross-sector partnerships, this purpose driven solution could come together to finance, develop, and manage social and affordable housing.
No single sector can tackle this issue. Various affordable housing strategies like public-private partnerships, mixed-tenure developments, tax subsidies for affordable supply, home ownership schemes, build-to-rent, and inclusionary planning mechanisms are all on the table for collaborative solutions.
One area I’ve focused on is tapping into the NDIS market to create affordable housing for people with disabilities, making a significant difference for those who struggle the most to find suitable accommodation. My approach, which I encourage other property developers and investors to consider, involves:
- Choosing a mixed tenure approach to housing development – Creating properties that offer high returns for investors, while being suitable for tenancy by different sectors of the population. We build houses with multiple bedrooms, each well-appointed and fitted with its own en-suite bathroom. This setup allows us to rent out each room affordably. The houses we build are not only upmarket and beautiful, but each tenant also enjoys a spacious and stylish private bedroom and bathroom at a fraction of the cost of a normal house, making renting a viable option for people with low incomes or those relying on government aid.
- Ensuring houses are accessible and suitably equipped for various tenants – every room in the house comes with accessibility features, so that renters with disabilities can live independently. This not only opens the property to a wider market but also gives those who wouldn’t ordinarily have the opportunity for independent living the chance to do so. This also helps reduce overcrowding and prevents young adults with disabilities from moving into aged care facilities.
- Developing a public-private partnership – The government offers assistance to people who are homeless, at risk of homelessness, or require support to obtain or sustain housing through services like social housing, financial assistance for private housing, and specialised homelessness services. By accessing housing through NDIS, we give vulnerable people a chance to exercise their basic human right to housing, but it requires a cooperative effort between the private and public sectors.
Ethical Property Investments are pioneering this approach, creating a win/win/win solution for private investors, public/government departments, and vulnerable Australians. This starts with building houses specifically designed for people with disabilities, allowing them to live independently. This is our focus and our driver.
By creating investment opportunities for everyday Australians now, I’m helping ensure future generations have a property portfolio to fall back on, in addition to their superannuation. With mixed tenure, the rental income is far higher than traditional renting methods, while also addressing the shortage of available rental homes by avoiding short-term and holiday rentals.
This approach as a blueprint that can be adopted by any property developer or investor. It’s not only lucrative, but also makes a significant difference in society. While it might not solve the housing crisis entirely, it changes lives. It offers a new perspective on involving private sector investors, public/government departments, and developers in financing and delivering social and affordable housing both in Australia and around the world. We must continue to explore and recognise the challenges and stakeholders involved in this crucial process.