Colony 47 JumpStart program to help young people get foot in door of subsidised rentals
Young people looking for a place to call home while learning vital financial skills will have the chance to benefit from a new pilot program offering subsidised rental accommodation in Hobart. HOW YOU CAN APPLY >
Tasmania
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Young people looking for a place to call home while learning vital financial skills will have the chance to benefit from a new pilot program offering subsidised rental accommodation in Hobart.
Colony 47 and the MyState Foundation have acquired two, three bedroom homes, which will become available in early June as part of the JumpStart program – believed to be the first program of its kind in Tasmania.
The program includes the share house program – for young people wanting to pay less rent by living in a share house environment, and the JumpStart subsidy program – for those wanting to live in a private rental, but who still need rental assistance.
Expressions of interest from eligible Tasmanians aged 18 to 24, who are either working or studying, are currently being accepted.
“We are looking at about 18 young people in this first year and hoping that we grow the program in years to come,” Colony 47 CEO Dianne Underwood said.
The program aims to give young people chance to build a private rental history and the skills to live independently over 12 months, while living in a fully-furnished home with $50 a week, per young person, to go towards rent.
It is also open to young parents.
Ms Underwood said young people were being increasingly pushed out of the housing market – with the latest Census data showing a 45 per cent increase in the number of Tasmanians experiencing homelessness
“These young people are our future and we need to give them the skills to be good members of the community,” she said.
“As a participant’s earnings increase over time, the support we provide will fall away, at which time they will graduate the program with a rental history and further skills to live independently.”
MyState Foundation will invest $56,800 over three years which includes $46,800 to subsidise rent across two share houses, $10k for furniture, white goods and linen.
MyState Limited CEO Brett Morgan said the program offered more than housing.
“This isn’t a hand out, but rather a helping hand to get that all-important foot in the door of a rental home,” Mr Morgan said.
“We’re offering the chance to unlock good financial habits that will last a lifetime, with MyState expert staff to offer free, on-on-one coaching (including financial literacy and budgeting).”
To submit an expression of interest, go to: https://bit.ly/3LlP5gR
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