DATE: Thursday 14 May 2020
Last week was the first anniversary of Rentwell, the first charitable property management service in the ACT, providing affordable rental accommodation to people on low incomes.
Frances Crimmins, Chief Executive Officer of YWCA Canberra said with so many people struggling in our current time of crisis, many in our community want to give back.
“Rentwell provides investment property owners in the ACT with an opportunity to change someone’s life tangibly and powerfully.
“We have seen incredible generosity from the Canberra community. In its first year, Rentwell
has already secured 25 properties to rent to families who were unsuccessful in the Canberra’s expensive rental market. That’s 49 people who now have a quality, affordable and secure home.
“The owners of Rentwell properties have benefited from a land tax exemption, over $80,000 in total in donations through rent reductions, no setup or marketing fees, and guaranteed rent.
“We are looking forward to bringing many more properties into our Rentwell portfolio, and helping even more local families who have been priced out of the private rental market.”
Our Rentwell tenants include women and children fleeing domestic violence, older women, refugee families and people who had been forced into homelessness. They are all people with employment who, due to their life situation and the high rental costs in Canberra, were unsuccessful in the private rental market.
“If you own an investment property in the ACT and want to make a lasting difference in the life of a local older woman, single mum or dad, or a family, this is your opportunity.
“Together, we can build stronger communities and make Canberra even more inclusive, fair and liveable for everyone,” Ms Crimmins said.
Quotes attributable to Julie Evans, Rentwell property owner:
“I’ve been very happy with the rental return, helped by the ACT Government support of the scheme, and also to know that it is being rented out consistently with my values, making a real difference for a family who would have found accessing private rental difficult in Canberra otherwise.”
– ENDS –
Frances Crimmins, Georgina Byron of the Snow Foundation and several Rentwell property owners are available for interview.
Media contact: Angel Hellyer, 0429 210 881, firstname.lastname@example.org
Property owners and prospective tenants are encouraged to visit www.rentwell.com.au or email Rentwell@ywca-canberra.org.au for more information.
Media pack available.
How Rentwell works:
1. Property owners sign a head lease with YWCA Canberra, which means the organisation is responsible for ensuring rental income is paid.
2. YWCA Canberra identifies suitable and eligible tenants and sub-leases the property at below 75 per cent market rate.
3. Property owners apply for a land tax exemption through the ACT Revenue Office.4. YWCA Canberra provides property owners with a tax-deductible gift receipt for any foregone rent (the gap between market rate and the discounted rate)