Leasehold Strata Scheme Submission
The opportunity for creating more affordable housing through leasehold strata schemes.
Currently the Minister for Lands, the Hon Ben Wyatt MLA, through Landgate, is conducting consultation on draft regulations for the introduction of leasehold strata schemes. Whilst the regulations are some time away from becoming law, Shelter WA was pleased to work with CHIA WA and lodge a joint submission on what will be a great opportunity for community housing providers, the wider community sector and government.
Participants at the Shelter WA Landgate presentation.
In a nutshell, the proposed leasehold strata scheme arrangements will enable owners of land, for example government agencies, religious groups who hold land, philanthropists and other large land holders, to offer a lease over the land for up to 99 years. The buyer of a leasehold strata lot will not own the land, rather they will own the lease for the period.
A key reason why this is important and can deliver new affordable housing options for West Australians is that, community housing providers could gain access to free or below market rate land to make the development of affordable housing feasible. The community housing provider could then sub-let those properties under an affordable rental arrangement.
To get a full picture of the opportunity, please read our submission here.
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