Property owners on Kangaroo Island have been asked to consider if they are making the best use of their property by letting it for holiday accommodation.
As part of the Management Plan for Housing on Kangaroo Island, the Commissioner for Kangaroo Island has worked with a range of stakeholders to find out how to address the Island’s housing needs.
The Management Plan was developed to address a lack of fit-for-purpose, accessible and affordable housing on Kangaroo Island. Housing shortages include, but are not limited to:
- Rental properties for those working, or seeking work, on the Island,
- Affordable housing to purchase
- Appropriate housing to purchase (size, location etc.),
- Public / community housing
- Public housing (SA Housing Authority properties);
- Emergency housing;
- Transitional housing;
- Aged-care accommodation; and
- Supported residential facilities for young people, those experiencing domestic violence, those living with a disability or older people requiring in-home support.
One strategy for increasing the availability for rental properties is for the houses currently for sale being purchased and used for rental accommodation, and for those who have tourist accommodation to consider permanent residential tenancy.
A “rental tool” has been developed to assist property owners and potential investors to work out if they could be better off in the traditional housing market.
You can find it here. By simply adding your own inputs, the Excel model will tell you the outcomes for either tourism or residential tenancy.