SHARP: Subsidised Housing and Rental Program
Our goal for SHARP
Habitat for Humanity Australia aims to become a landlord of choice for the vulnerable in our community who want a better future for their families through secure and affordable rental accommodation.
Increased security and affordability of housing provided through SHARP will reduce housing stress, support families to access better education and employment, and improve economic stability and overall quality of life.
Affordable housing not only provides the fundamental need of every family for safe and stable housing, but it also achieves considerable social benefits. Through the management of a portfolio of leasehold houses, HFHA improves the social infrastructure. We do this by creating safe, affordable and secure housing for those that really need a helping hand – just like public investment in schools and hospitals.
Who benefits, and how?
HFHA require investors and developers of affordable housing ‘Build-to-Rent’ projects to lease these apartments/units to HFHA at market rent for up to five years. SHARP is most suited to our larger property investors and developers who construct and own residential apartments, affordable housing and have a large diverse portfolio where the financial impact of such tax deductible donations will be inconsequential in relationship to the significant impact this generosity and involvement will have on many aspiring Australians.
Those same lessors would then donate most of that rent back to HFHA. As per Australian Tax Ruling CR 2023/39 published on July 21 2023, this donation is tax deductible to the lessor. Capital Gains Tax concessions are also available. HFHA then sublets the homes to selected and qualified (sub) tenants on long-term leases and at no more than 50% of the market rent.
SHARP is a worthy ESG initiative for the lessor corporation. The 2019/20 Survey of Income and Housing (SIH) showed that renters tend to have lower incomes and spend a larger share of their disposable income on housing costs compared with owner-occupier households (both outright owners and those with a mortgage). Renters are also more likely to experience financial stress (RBA). Could you be a part of the solution?
Can you help?
Rental Property: Habitat Australia encourages Australian property leaders to consider our SHARP program, to see whether they can improve the housing crisis with little detrimental investment return and easing the housing crisis for those who desperately need your support.
Marketing Expertise: Can you help us get the word out? We’d love to hear how you could help us reach more people across any form of media.
Asset Management: We require effective asset management of the portfolio! We would value partnering with you (or someone you know) for this important role.
Would you like to hear more about the SHARP initiative? Please leave a message below and Brian Tasker, Head of Australian Programs, will be in touch shortly. Alternatively, please find Brian's contact details below.