Property Initiatives Real Estate
A social enterprise initiative of Women’s Property Initiatives (WPI), developing low-cost, safe, and long-term housing for at risk women and children.
Property Initiatives Real Estate (PIRE) is a real estate agency specialising in property management in inner Melbourne, providing low-cost, safe, and long-term housing for at-risk women and children.
Funds raised: $30,535
The funds raised at the TFN Melbourne social enterprise event on 6 June will enable WPI to provide increased options for rent roll acquisition, and build on PIRE's property portfolio, enabling the business to become viable in order to divest company profits into the WPI program, thus providing long-term housing solutions to address the issue of homelessness and housing affordability.
Too many women in Australia need to make the choice between an unsafe living environment or being homeless. Yet, this is the situation for a growing number of women in Australia, and is only being made worse by a crisis in housing affordability. Property Initiatives Real Estate understands this problem better than most, with over 200 women on their waiting list seeking affordable housing. They provide affordable and long term housing to some of Victoria’s most at-risk women. However, in order to provide more housing and scale, they need to increase their revenue.
At TFN Melbourne, Kristie Looney was pitching for funding to increase their rent roll, which in turn would get them closer to financial sustainability and allow more of the funds to be used on providing this accommodation. Thanks to the efforts of the TFN community, PRIE has added over 20 new properties to their portfolio, increasing their revenue and their profile in the community. One of their beneficiaries is a refugee with four children she is caring for, since moving into the property the outcomes have been significant.
“The stability of the home has provided them with the opportunity to move on with their lives, engage with the services and supports they need, improve their family relationships immensely and has allowed them all to flourish!” – Jeanette Large, CEO
Read their Impact Report