This week, we’ll be delving into a critical issue plaguing Australia—the rental crisis. According to the National Housing Finance and Investment Corporation, Australia will require an additional 107,000 dwellings by 2027, which is just three years away.
With the current building approvals and immigration rates, the scarcity of available properties is likely to worsen. But don’t worry, as investors, we can make a difference.
Let’s explore the top three tips to help tackle the rental crisis.
1. Build Multiple Dwelling Type Homes
To increase the density of available housing, we can focus on constructing multiple dwelling type homes.
These homes come with multiple units or rooms that can be rented out, thereby maximizing the usage of space.
By opting for this approach, we contribute to addressing the shortage of properties while providing more housing options for those in need.
2. Increase Land Density
Another effective way to combat the rental crisis is by increasing the density of land usage.
Suppose you own a standard residential block with a single-family home. In that case, there might be potential to explore options like adding a granny flat or another dwelling, enabling dual occupancy type properties.
By utilizing the land efficiently, we not only aid in resolving the rental crisis but also boost rental income for property owners.
3. Catering to the Changing Demographic
As the demographic landscape shifts, it’s essential to adapt to the evolving housing needs.
With an increasing number of single individuals and international immigrants coming into Australia, we must cater to their requirements.
Co-living properties offer a safe and secure environment for single occupants, fulfilling their demand for comfortable living spaces.
By embracing these changes, we can create housing solutions that effectively address the current shortage.
Co-Living Property Expo – 12th August at Fitzy’s Loganholme
To learn more about these innovative co-living properties and how they can contribute to solving the rental crisis, join us at our Co-living Property Expo on Saturday, 12th August.
As a bonus, we’ll take you to see a real finished home, allowing you to experience firsthand how they work and understand the benefits they offer to tenants.
Join us on the 12th of August at Fitzy’s Loganholme for our Co-living Property Expo, where we’ll explore these solutions in detail and work towards a brighter future for the rental market. To reserve your spot click here.
Regards,
Geoff Tomkins
Buyers Advocate
PH: 0404 852 781
