Tenancy Skills Institute’s new report reveals almost 5% of renters at risk of homelessness right now.
Entitled ‘The Next Wave of Homelessness: Tenancies at Risk in the Private Rental Market’, it highlights that currently as many as 350,000+ Australians could be vulnerable to homelessness —an alarming possibility, especially when homelessness services are struggling to meet demand.
We thank ABC Radio Brisbane’s Steve Austin for an on-air chat this morning with our CEO Paul to announce the report.
Paul shared how property managers in the private rental market are often the first people to identify when tenancies are at risk of failing. With the current lack of housing stock and low vacancy rates, when a tenancy fails, the household becomes vulnerable to homelessness.
The first-ever report of its kind, we asked property managers in Australia and New Zealand, who manage over 83,000 rental properties, to identify how many tenancies on their rent roll were at-risk of failing.
- The Risk is Clear. The survey data reveals that 4.84% of Australasian tenancies surveyed are at risk of failing. When applying this trend across Australia, the number of people potentially living in at-risk households is almost 3x the current number of people experiencing homelessness (Census Night, ABS 2021).
- The Sentiment is Promising. Research indicates Australasian property managers have a positive sentiment towards participating in early intervention to prevent homelessness and 89% of property managers surveyed would use, with tenant consent, an efficient, online tool to connect tenants/renters to support services.
- Opportunities are Available. The report highlights that with a deliberate shift towards targeted early intervention, supported by effective tools and resources and the development of positive and purposeful relationships between stakeholders in the private rental market and support services, the potential to effect genuine early intervention can be increased exponentially.
That is, to turn the tide and prevent the next wave of homelessness.
We thank our valued property manager network, including via the REIA, REIACT, REIQ, REIT, as well as real estate industry leaders Cloudstaff, Mitchell PT and MRI Software for sharing their invaluable insights.
Read the report here (or contact us for a copy). Listen to ABC Radio Brisbane interview here (timecode: 51:55)
The Tenancy Skills Institute is Australia’s leader in homelessness prevention and early intervention, using an education and cross-sector partnership framework. We are a part of inCommunity Inc., a not-for-profit organisation leading solutions to address the issue of homelessness since 1982.
