Urban Choices Property Ltd is an ethical and commercially operated not-for-profit residential property management agency that specialises in National Rental Aordability Scheme (NRAS) compliance and incentive management for private investor landlords. Urban Choices Property is a public benevolent institution and is a wholly owned subsidiary of Housing Choices Australia Ltd. The company directs operational revenue surpluses to Housing Choices Australia to assist the parent company to provide additional social and aordable housing options for some of Melbourne’s most socially and financially disadvantaged people. Oering industry leading and ethical residential property management solutions for NRAS and general investors, Urban Choices Property provides a broad range of sustainable housing options to meet the housing needs of vulnerable Australians, particularly those on low to moderate incomes and those living with a disability. Throughout the 2019-20 financial year, the team at Urban Choices Property sought to consolidate and enhance our relationships and rapport with our highly valued landlords and residents, particularly during the height of the COVID-19 pandemic. Financial challenges brought on by the pandemic prompted a significant number of our landlords and residents to contact the company to discuss their personal circumstances and explore options that were of mutual benefit to both.
The trend for residents seeking rent relief was tracking low at the commencement of the pandemic in Victoria, with just 7.5% of our resident base seeking to have their rent reduced up to the end of May. This trend did, however, experience an uptick towards the end of the reporting period, with approximately 10% of our residents requesting a reduction in rent payable due to their financial circumstances being detrimentally impacted by the pandemic and declared State of Emergency in Victoria. With so many of our landlords being socially conscious, compassionate and wanting to make a positive dierence in the lives of others, we are pleased to report that most requests for a temporary rent reduction were agreed to. Urban Choices Property sta were determined to find positive outcomes for landlords and residents who were most aected by the COVID-19 pandemic. This drove the team to work closely with residents who had fallen behind on their rental payments and assist them to develop fair and reasonable payment plans that would help bring them up to date and help them feel more secure in their tenancy. At the close of FY2019-20, Urban Choices Property managed more than 250 properties in and around Melbourne on behalf of landlords.
Housing Choices Australia | Annual Report 2019-20
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