Home ownership continues to remain a goal for many, but achieving property goals, whether it be size, location or lifestyle, may not easily be met; and for many the opportunity to live a certain way may only ever be achieved through renting. 

A survey conducted by the Housing Industry Association (HIA) found that while 92 per cent of renters dream of owning their own home, only 49 per cent feel it is achievable.

As we know, achieving our goals takes time. Tighter lending criteria is just one of the challenges first home buyers are facing, making it increasingly difficult to enter the market for the first time. 

In the meantime, as a landlord, it is your property they will be calling their home. 

For current landlords and investors, it demonstrates an important opportunity to continue to provide a valuable commodity in the way of secure housing to make available for the population.

The prospect of home ownership is far away for some, with the survey’s findings suggesting Sydney residents would need to save for 9.5 years (putting away $200 per week) to cover a deposit on a median-priced apartment. For Melbourne residents, it is suggested they would need to save for six years and three months. Brisbane residents would need to save for four years and one month to achieve property ownership.

While suggesting a challenging few years ahead for those seeking to break into home ownership, it also demonstrates the importance of the rental market, and the role in which landlords play in providing provisional accommodation for a large proportion of the population.

In most cases your rental property provides you with a sound investment opportunity and reassurance towards your retirement. For your tenants it is much more than that; it is simultaneously providing a roof over their head and giving them a place to call home. 

Considering this, your investment is providing the means for the basic human need, which is shelter. And the importance of your role as landlord in providing this is invaluable.