Senior Aussies urged to follow 'rentirerment' scheme to free up 137,000 homes

The Australian housing market has been as tight as a drum for the past years.

With skyrocketing rent prices and a scarcity of available homes, a bold new proposition recently emerged that could change things—especially towards seniors.

Property research firm Suburbtrends encouraged Australian seniors to embrace 'rentirement'—a blend of retirement and renting that could unlock more housing for younger generations.

According to the firm, the initiative may have a five-year moratorium on losing a primary address and will provide housing options for tenants.

Suburbtrends founder Kent Lardner shared some statistics supporting the argument.

Suburbtrend's proposed ‘rentirement’ plan will free up homes for renters across Australia. Image Credit: Pexels/Ivan Samkov

'Our data shows that over 137,000 homes could be released into the rental market if just 10 per cent of the Rentirees cohort participated,' he said.

'This represents a substantial untapped resource that could drastically ease rental pressures.'

Instead of the usual downsizing or moving to a retirement village, 'rentirement' offers a chance to fund an overseas adventure by renting out your family home.

The proposition is not just about wanderlust; it's a practical solution to a pressing problem.

'While increasing housing supply is essential, it simply won't come fast enough to address the immediate needs of renters,' Lardner added.

He highlighted Southeast Asia as an ideal destination for retirees because of its lower costs of living.

This allows retirees to enjoy a higher quality of life without the hefty price tag often associated with Australia's major cities.

It's a win-win-win scenario for everyone:
  • Retirees get to indulge in a cost-effective and culturally rich lifestyle.
  • Renters gain access to more housing options.
  • The government can breathe easier with reduced pressure on the housing market.
The stark reality is that rental fees in Australian cities worsened dramatically.

PropTrack's recent report showed a drastic reduction in affordable rental homes.

Properties costing less than $400 a week plummeted from 43.2 per cent at the start of the pandemic to 10.4 per cent.

In capital cities, affordable rental properties lowered significantly to 5.9 per cent, signalling a severe shortage.

PropTrack's Senior Economist Eleanor Creagh described the rental market conditions as a crisis.

'Crisis conditions have gripped rental markets around the country,' she said.

The high migration rates and an insufficient supply of new builds and long-term rental properties also created a perfect storm for renters.

So, is 'rentirement' the outside-the-box solution Australia needs?

It presents an intriguing option for those willing to embrace a change of scenery and lifestyle.

On the other hand, overhauling a long-standing lifestyle can also be daunting.

As we navigate these challenging times, bold propositions are necessary to ensure a stable and affordable housing market for all Australians.
Key Takeaways

  • A property market researcher suggested senior Australians rent out their homes and retire overseas to alleviate the housing shortage.
  • Property research firm Suburbtrends estimated that if 10 per cent of Australian seniors participated in 'rentirement', over 137,000 homes could be released as rentals.
  • The 'rentirement' proposition included a five-year moratorium on the primary place of residence benefit for participating retirees.
  • The initiative could be beneficial for retirees, renters, and the government as it would provide immediate relief to the rental market, all while enjoying retirement in regions with low living costs.
Do you see yourself renting out your home and retiring overseas? What are the potential challenges or benefits you foresee about this proposal? Share your thoughts about 'rentirerment' in the comments below.
IT's the government's fault, too many immigrants and no housing for them, no problem having immigration but don't make the.locals suffer because of it, and agents are sharks circling the waters, jacking up rents like parasites.
Australian's should have first option to rent or buy before anyone else. There are too many foreign investors buying up land and property before Aussies even get a look-in. Charity begins at home.
Governments think charity should go overseas first, they can hate Us for free. Sending money to Pakistan foe gender studies? Wtf, all western Governments are crap. Told what to do by God knows who, maybe rothschilds soros nwo wef, who knows, libs and Labor, two wings of the same bird.
What a silly proposition, when the government is bringing in half a million immigrants every year. So seniors who have lived and paid taxes in Australia their whole lives are supposed to leave so that immigrants can have their homes. Get stuffed!
Retired home owners have worked hard for what we now have, why should we consider leaving our family and friends to make a life in another country, you must be joking or completely mad. When we were young it was'nt easy either.
How ridiculous!! No one in their right mind would take up this proposal. Leave their home family & medical care behind for a 3rd world country. No thank you!! We've worked hard all our life to get what we have. Sacrificed a lot & then they want us to hand it over to someone else to neglect & leave the country. They have got to be joking!!
This sounds good in principle but any rent collected is classed as income. The home becomes an assets for deeming purposes. Both will affect the amount of aged pension you receive and may actually leave you in a worse cash flow position. I say seek financial advice from an independent adviser and Centrelink.
Who in their right mind would want to live in Asia? Why would you rent out your house not knowing what the tenants will do? Plus the insurances landlord insurance is expensive and will the rent affect your pension? Maybe STOP ALLOWING in the asylum seekers, stop spending money on stupid things like the 'yes' vote, welcome to the country, mining royalties (that have been given to those not deserving) and start building more public housing...
Maybe if Our Dystopian Totalitarian Govt put more focus on Social Housing,Immigration,Apprenticeships, support for Small Businesses, reduced the overall Cost of living due to free Markets ,Banks, Multinationals and Corporate Greed ,this Country has so much Wealth in the Ground going to a few
This won't be happening in my household. Not only is there plenty of Australia that we haven't seen, there's the situation beyond just us oldies. What if any of our kids or grandkids need to come home because they find themselves in difficulties? It's the family home, and that includes all family.
What a silly proposition, when the government is bringing in half a million immigrants every year. So seniors who have lived and paid taxes in Australia their whole lives are supposed to leave so that immigrants can have their homes. Get stuffed!
I was just about to say the same. We've lived all these years to get what we have. Why should we be the ones to move out? NO schemes or support when I was first renting or buying.
They want us to retire to Asia? 3rd world medical support for retirees! I DON'T think so.
There are many Australian suburbs which are no different to a suburb in Mumbai, Shanghai, Kabul or Colombo. No need to go overseas!

Take Hurstville or Punchbowl in Sydney or Springvale and Dandenong in Melbourne for example. So wonderful to feel like an immigrant in your own country! :mad:
What a pathetic idea. Many retires are reliant on medical services, of which not all countries have. And if the one I move to who is paying for that cost? Then there is family. Many of us rely on the joy of seeing their children, grandchildren, brothers and sisters, friends they have known for decades.
Obviously, this stupid idea has not been examined from a a personal aspect.
We will not be joining the hoards of people joining this band wagon.

Join the conversation

News, deals, games, and bargains for Aussies over 60. From everyday expenses like groceries and eating out, to electronics, fashion and travel, the club is all about helping you make your money go further.

Seniors Discount Club

The SDC searches for the best deals, discounts, and bargains for Aussies over 60. From everyday expenses like groceries and eating out, to electronics, fashion and travel, the club is all about helping you make your money go further.
  1. New members
  2. Jokes & fun
  3. Photography
  4. Nostalgia / Yesterday's Australia
  5. Food and Lifestyle
  6. Money Saving Hacks
  7. Offtopic / Everything else
  • We believe that retirement should be a time to relax and enjoy life, not worry about money. That's why we're here to help our members make the most of their retirement years. If you're over 60 and looking for ways to save money, connect with others, and have a laugh, we’d love to have you aboard.
  • Advertise with us

User Menu

Enjoyed Reading our Story?

  • Share this forum to your loved ones.
Change Weather Postcode×
Change Petrol Postcode×