INVESTORS CAN HELP
Investors purchase properties for many reasons. The opportunity now exists for investors with an altruistic nature and/or a sense of social justice to also realise these expectations through their residential property investment. MARSS believes that there are Canberran investors who believe that making money and helping others are not mutually exclusive.
We need to help refugees find homes – and increase the number of accommodation rentals from the private rental market available to Canberra’s newest community members. Read on to see how you can help.
HOW IT WORKS
What is this project all about?
We need to help refugees find homes – and increase the number of accommodation rentals from the private rental market available to Canberra’s newest community members – the migrant and refugee community. With the Canberra Business Chamber, as well as the Real Estate Institute of the ACT, and the Migrant and Refugee Settlement Services of the ACT Inc joining forces, this project aims to educate the Canberra community on the need, and appeal to landlords to help with this endeavor.
Investors purchase properties for many reasons. The opportunity now exists for those who may have an altruistic nature and/or a sense of social justice to also realise these expectations through their residential property investment. MARSS believes that there will be landlords in Canberra who believe that making money and helping others are not mutually exclusive.
Canberra has a big heart, and we need to find these investors who, in effect, will have faith in our new community members. We need to find the sense of giving someone a “fair go” from the investment community.
Why is the Canberra Business Chamber involved?
Why is the Real Estate Institute of the ACT involved?
The Real Estate Institute of the ACT (REIACT) sees that they can play a part in helping the Canberra community understand the issue. The reality in the private rental market is that property managers receive multiple applicants and placement is a competitive process. Most applicants have a detailed employment history, traceable rental backgrounds, references and full time employability. As a mandated requirement to their owners, property managers make recommendations on the basis of these known factors, which can make it difficult for property managers to place new arrivals as the recommended applicant.
With instructions from you to your property manager to contact MARSS, you can be assured of helping Canberra’s newest community members.
Who are the people who would be seeking rental properties?
Potential landlords will be renting their properties to humanitarian entrants/refugees who have been granted protection visas by the Department of Social Services. Humanitarian entrants can hail from various regions including the Middle East, Africa and even Asia.
What can MARSS offer if I do have an investment property?
MARSS is contracted by the Department of Social Services to deliver settlement services to new humanitarian entrants/refugees arriving in the ACT and surrounds. Accommodation services are included in the suite of settlement services offered to MARSS clients. MARSS will coordinate the process of placing suitable clients in appropriate homes, thus reducing unnecessary costs that may have to be incurred by potential landlords.
What sort of guarantees do I get about rent and bond?
Individual tenants’ names would be added to the lease, as is required under legislation, and market rent would be paid. The bond lodgement assistance scheme with ACT Government would form part of the process, ensuring investors have four weeks bond guaranteed, exactly the same as other applicants.
What sort of additional support does MARSS give if I help with my investment property?
MARSS will ensure that suitable tenants are sourced for the property and will provide assistance to the tenant with the relevant documentation relating to the tenancy. MARSS representatives will also carry out on-site support visits and inspections, to ensure the property is being maintained well.
What if my investment property currently has a tenant?
If you currently have a tenant, no need to do anything. However, when that tenant gives you notice they are leaving, please tell your property manager to contact MARSS before advertising again – or contact MARSS yourself if you rent your property out yourself.
What if I am currently trying to find a tenant for my investment property?
Perfect opportunity – the planets are aligning!! Please contact MARSS now and arrangements can be made to help out a family immediately. You could also give your property manager instructions to contact MARSS instead of advertising, and be assured that appropriate tenants will be selected for your property.
What if I am buying an investment property now?
This is a perfect time to consider helping. Please contact MARSS yourself or ask your property manager to contact MARSS to discuss the option of renting through MARSS and this initiative.