With 1.5 million people currently living in housing stress, many Australians will witness someone they know fall on hard times without a place to call home. Thankfully, Homes for Homes, backed by social enterprise, The Big Issue, has developed a national plan that aims to raise in excess of $1 billion to increase housing supply.
PEXA recently teamed up with Homes for Homes to facilitate donations – a modest 0.1 percent home sales from participating homes – when properties are settled online through electronic transfer. A large number of Australians have benefited from an ongoing housing boom that’s delivered them record high house prices over the last 25 years. They now have an opportunity to give back by donating a tiny proportion of their next property sale. Even better, it's tax-deductible.
PEXA is proud to support settlements of properties that have the Homes for Homes caveat attached to their title. Each Homes for Homes caveat applied to an upcoming electronic transfer home sale helps chip away at Australia’s housing supply crisis.
Identify a Homes for Homes Workspace
First, identify if there is a Homes for Homes caveat on title.
Navigate to the Land Title screen. A dialog appears to inform you that a Homes for Homes caveat is detected, if present.
Scroll down the screen and if there is a Caveat section, check to see if 'Homes for Homes' is listed as the Caveator. If there is no Caveat section, or 'Homes for Homes' is not the Caveator, then this transaction does not involve Homes for Homes.
Copy the Dealing Number. The dealing number will be used as the payment reference when creating the destination line item on the Financial Settlement Schedule screen.
Make a donation to Homes for Homes
Once you’ve identified that there is a Homes for Homes caveat on title, you can now make a donation to Homes for Homes.
Navigate to Settlement > Destinations > Add Destination.
On the Destination Funds Details screen, select Homes for Homes Donation as the Category.
Enter the donation amount.
Paste the 'Dealing Number' into the Payment reference number field.