Organisations within the not-for-profit sector often experience challenges due to funding uncertainty. For many organisations, government, across Local, State and the Commonwealth, is a significant funding contributor, but this is not keeping pace with changing needs.
As a result, many organisations are seeking Strategies to diversify their income to complement existing funding sources. We’ve been working with HomeGround Services, one of Melbourne’s leading housing and homelessness providers to deliver HomeGround Real Estate, Australia’s first not-for-profit real estate agency.
HomeGround Services has managed hundreds of properties over the past 15 years. HomeGround Real Estate extends this existing expertise through the formation of a social enterprise that will deliver property management services to the wider community.
This morning saw the official launch of HomeGround Real Estate at Federation Square. The launch featured speakers who discussed the impact of the organisation, and vision of HomeGround Real Estate.
The real estate industry is a highly competitive sector, with many entrants and a low level of differentiation. HomeGround Real Estate, however, has a clear point of difference, being a social enterprise that reinvests funds into the services provided by the organisation.
The agency will specialise in property management and offer three options for landlords. The first includes the ability receive market rental returns, reinforced by demonstrable property management expertise. In this instance, HomeGround is comparable to other agencies, but with the knowledge that utilising the agency provides an opportunity to assist HomeGround through new revenue sources.
In addition, there is the opportunity to support HomeGround’s Affordable Housing Initiative, by offering properties at below market rates or through philanthropy. Under this initiative, HomeGround provides support to ensure ongoing care of the property.
Each of these options provides the opportunity to support the aims of HomeGround Services, with the knowledge that the income provided through the agency is supporting the wider community.
HomeGround Real Estate is an example of innovation in a sector that must identify new opportunities that can provide funding certainty. In addition, HomeGround Real Estate enables landlords to make an ethical choice that can transform the perceptions that people may hold of the real estate industry.
For details please visit www.homegroundrealestate.com.au.