How young adults can benefit from social housing with the Johannesburg Housing Company
How young adults can benefit from social housing with the Johannesburg Housing Company Affordable housing is a challenge that South Africa has been facing for many years. And, it’s even harder for young adults who entered the job market at volatile economic times. The majority...
Affordable housing is a challenge that South Africa has been facing for many years. And, it’s even harder for young adults who entered the job market at volatile economic times. The majority of these young adults also have other financial responsibilities such as taking care of families, despite the low-income they earn. This adds to the already existing disadvantages when searching for affordable flats to rent.
Because of this, the government introduced an institutional subsidy mechanism, which led to the development of social housing institutions and projects.
What exactly is social housing?
Social housing is a government housing subsidy scheme specifically designed for people who earn between R1 500 and R15 000 per month. These are individuals who do not qualify for housing bonds or breaking new ground housing.
As a young adult, you know that this is a bracket you typically fall under. Which means you require as much help as possible to find an affordable place to stay. That’s why social housing is your next best option. But when you connect to social housing institutions, ensure that they’re credible by checking on whether they’re accredited by the Social Housing Regulatory Authority (SHRA). Let’s explain more on this below.
What does a Social Housing Institution (SHIs) do?
The role of Social Housing Institutions is to develop and manage social housing stock. However, for an SHI to be deemed credible enough to manage housing schemes, they have to be accredited by the SHRA. The SHRA is a regulatory body which manages the Social Housing Institutions and encourages the development of sustainable and integrated communities. The SHRA also ensures high-quality cheap rental housing is available to the public, including young adults like you.
The SHIs have to comply with all applicable legislation and ensure that all social housing schemes are accredited by the SHRA. According to the social housing policy, an accredited project is a project in which the government makes a subsidy contribution in order to make rental units, which are provided by the private-sector, affordable to those eligible for social housing.
Who is eligible for social housing?
The qualifying criteria for social housing are as follows:
• Have a household income between R1 500 and R15 000.
• You must be 21 years or older.
• Have a clean credit record.
• Be a South African citizen or permanent resident.
• Be married or single, with or without dependents.
• Have the ability to pay the required monthly rental.
What are the benefits of living in social housing?
Most South Africans, particularly young adults, live paycheck to paycheck and can barely stretch out their salaries for a full month. Majority of these young adults are breadwinners with bigger financial responsibilities than they’re able to handle. And, the economic inequality further throws these individuals into more vulnerable conditions, widening the gap of access to housing. If you earn between R1 500 and R15 000, it’s impossible to afford housing on the private commercial market due to the high rates. That’s why social housing provides mid-income and low-income earners with affordable housing.
Not only that, but social housing also provides earners in these segments with housing that’s secure, close to public transport, places of work, schools, libraries, shopping centres, recreational facilities and other social amenities. This means that young adults who have families can have access to and reap from the benefits of social housing.
Social housing is one of the affordable housing solutions available to previously disadvantaged individuals who are mid-income and low-income earners. It’s the government’s help for citizens, including young adults, who need access to cheap housing that’s also quality, secure and close to all basic and social amenities.
So, if you’re a young adult trying to find flats in Johannesburg CBD, there’s a long list of social housing in Gauteng available for you to choose from. If you meet the above criteria, reach out to the Johannesburg Housing Company and allow our team to help you find a home for you and your loved ones.