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.


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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.
 
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That won't work if you're on the pension and you're out of the country for a certain amount of time they won't pay you the pension. This is my understanding.
All good if you're self-funded but not too many doing that and then it's reporting to the taxation department because you're earning money from renting. Sounds like a minefield not retirement.
 
Sorry but I worked hard and went without for my beautiful big home. As a retiree I am enjoying my home which I couldn't really do when working due to working very long hours. I have been to South East Asia and I certainly don't want to live there. My taxes over the years have helped to build this country and to hopefully support me later, if needed, in services.... servies that I feel are not available in SE Asia.
I think the younger gen should get off their soapboxes about baby boomers having everything and start oing it hard like we did.
 
Why don't those who suggested such a ridiculous idea rent their homes and investment homes to the people who seem to have priority over true Australian citizens,,I have never heard a more stupid idea,,,that country is the one I want least to visit so would NEVER take on living there,,,my children ,grandchildren and great grandchildren get priority over them,,,never even in the count.,,,good grief,,where I live homes are being built flat out but sold before being finished to those people,,our town should be called little asia,,the most ridiculous statement I have ever read,,,we worked hard to buy our house and not renting to anyone to ruin
 
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.
Real estate agents are the lowest form of life.. lower the shark shite.
 
Why don't those who suggested such a ridiculous idea rent their homes and investment homes to the people who seem to have priority over true Australian citizens,,I have never heard a more stupid idea,,,that country is the one I want least to visit so would NEVER take on living there,,,my children ,grandchildren and great grandchildren get priority over them,,,never even in the count.,,,good grief,,where I live homes are being built flat out but sold before being finished to those people,,our town should be called little asia,,the most ridiculous statement I have ever read,,,we worked hard to buy our house and not renting to anyone to ruin
And ruin it they will.... I've heard and seen some horror stories...
 
I do not think this is feasible idea for the average retiree. Holidays abroad yes, great, my hubby and I are shortly leaving on a two month one. BUT to leave indefinitely, leaving all your family and friends at a time of life when you really have no idea how much longer you may have! Sorry. Stupid idea. I really doubt if they would get many takers!!!!
 
If they are able to live in their home do it
Why should the elderly be made to feel guilty about the crisis we are in.
Stupid gov sendBillions of dollars to the countries that are fighting it's time they stepped up and built more and cared about their own before waiting money on crap
 
politicians are always trying to get us out of our houses. I sacrificed a lot to build my house on acreage in A good area in Sydney. Worked 45 years and still working a bit at 72. Didn’t travel much overseas. Paid two mortgages when the interest rates were 18 percent. And as I live away from the city don’t go in there much to see shows etc. now my surrounding suburbs are being filled with houses standing cheek by jowel. All the natural bush was felled and lovely dams filled in. I’d never move from here as I still have my acreage in a quiet cul de sac with few neighbours. Politicians always want us to sell and live in units which I will never do. I bet they wouldn’t do that and all enjoy their houses. I definitely wouldn’t move to Asia. Europe maybe!
 
So if you move overseas and rent your home out what will be the effects from Centrelink? Probably lose your pension because of your extra income from rent? Therefore lose your meagre income and independence. Not a simple solution at all
 
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I do not think this is feasible idea for the average retiree. Holidays abroad yes, great, my hubby and I are shortly leaving on a two month one. BUT to leave indefinitely, leaving all your family and friends at a time of life when you really have no idea how much longer you may have! Sorry. Stupid idea. I really doubt if they would get many takers!!!!
 
I totally agree with you especially when as we age more Health services need to be accessed. Safe, quality health services that can be accessed reliably and depended upon in times of need.
 
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Why does anyone think us oldies, who have worked hard all our lives for what we have, no help from the government like younger ones now, eg paid maternity, paternity leave, free childcare, government paid super while on maternity leave, first home owners grants, no stamp duty on first homes etc etc. should give up anything we have, including our homes, family, friends, to make way for younger people who have so much government help to manage, or for immigrants. This suggestion must rank amongst the most stupid ideas ever. How about all the ex pollies start the trend and move to Asia, lose their taxpayer funded lifestyle, rent out their palatial mansions, set the example for the rest of us oldies. I can’t see it happening.
 
Is this serious? When all the politicians have sold their cars and go overseas with bicycles and as foreign residents are unable to enter parliament here, I may take a look at this preposterous idea.
 

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