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The state’s peak real estate body has called on property owners to step up and play a vital role in helping Western Australia’s vulnerable tenants amid the ongoing rental crisis.
The Real Estate Institute of Western Australia (REIWA) revealed that in 2022, 89 tenants completed its Tenancy Training program, which aims to help vulnerable tenants move from crisis and transitional accommodation into a home in the private rental market.
The initiative, which was launched under the institute’s Community REInvest program and in partnership with several organisations, aims to boost the confidence of potential renters and “increase their chances of securing a rental” by providing prospective tenants access to resources and knowledge to navigate the tenancy process.
Established in 2013, Community REInvest is a philanthropic program facilitated by REIWA. Through the initiative, member real estate agents identify opportunities to invest back into the community, mobilise resources and provide support to those who need it most, particularly those experiencing homelessness.
Following the training, participants also receive a “rental readiness” certificate that they can include in their applications to agents.
REIWA also trains case workers so they, in turn, can help more prospective tenants get into rental accommodations. Last year, the institute reported that 39 case workers undertook the Tenancy Training program.
President Joe White said the program comes at a time when “extremely challenging conditions” are currently taking hold of the state’s rental market.
The latest data from the institute showed that Perth’s median rent rose to a record $535 per week in February, as the city’s vacancy rate fell to 0.7 per cent over the month.
With the portion of available properties across the city sitting significantly below the “balanced market” range of 2.5 and 3.5 per cent, REIWA chief executive Cath Hart said that “WA simply needs a lot more properties”.
“Our modelling suggests between 18,000 to 20,000 are needed in the coming years to compensate for those that have been lost and keep up with population growth,” she stated.
Mr White stated that while the rental market conditions are challenging, a particular group of prospective tenants faces even greater difficulties.
“It is even more so for prospective tenants who do not have an ideal rental history, regular employment or references, such as those who have experienced homelessness or family and domestic violence,” he stated.
He also underlined that becoming homeless is not a far-off prospect for most people and can be triggered by a one-time, life-changing event.
“I never lose sight of the fact that I could easily become homeless. A serious car accident, business failure, relationship breakdown, unemployment or bad health can change the direction of our lives. I’ve seen it happen within my wider family and it can happen to anyone,” he stated.
Although these circumstances do not necessarily reflect a person’s capability to be a responsible tenant, they usually require additional support to regain stability.
To provide more insight, he cited reports from member property managers who attempt to find suitable homes for vulnerable tenants, either through the Community REInvest Tenancy Training program or following direct requests for assistance from community groups and charitable organisations.
“They know how many applications from good people fail due to the inability to tick all the boxes in an online application. They find it very rewarding to be able to directly help those in need and I frequently see them go to extraordinary lengths to find people a home,” he stated.
While the institute has mobilised its resources and network to help address the needs of vulnerable tenants in the state, he professed that “there is only so much we can do as an industry.”
“We need your help. We need property owners who are willing to rent their home to a vulnerable tenant,” he stated.
He explained that there are several ways property owners can help the cause.
“It may mean charging a lower rent than you could otherwise get in the current market. It may mean taking on more risk. But it would also mean giving a helping hand up to someone looking for a better future,” he concluded.
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