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OWNERS

Expressions of Interest 

Calling for expression of interest from parties who are interested in purchasing tiny home on wheels vehicle(s) as part of an initiative that seeks to increase the supply of affordable rental properties in inner Hobart.

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The concept would see tiny homes on wheels occupy areas of Hobart which are underutilised or sitting vacant. The homes would be offered for rent at affordable rates which are critically scarce across our city and be managed by a newly formed housing focused foundation.

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About the Program and Opportunity 

  • Parties purchase or provide a tiny home on wheels vehicle and offer it for participation in the rental program

  • The parties would agree to make the vehicle(s) available for rent through a head lease with the Wanda Foundation for a minimum period of two years

  • The vehicle(s) would be delivered to a central Hobart location (likely in early 2023), with the two-year rental period commencing around early 2023

  • The Wanda Foundation will have a Head Lease with land owners and provides the location for the vehicle(s) to be parked through a head lease with landowners in inner Hobart

  • The Wanda Foundation will lead and manage the establishment of the sites and their ongoing servicing throughout the duration of the lease

  • Parties can select their own vehicle for purchase from a collection of suppliers and options identified by the Wanda Foundation or provide their own vehicle for for inclusion in the program if it meets the Wanda Foundation’s criteria in terms of sustainability, self-sufficiency, and aesthetics. The owner enters into a sales contract directly with the tiny home supplier.

  • The vehicle is the party’s property, responsibility and registered to them

  • The purchase price for each vehicle is expected to be between $100,000 and $120,000

  • A commitment to provide up to a further maximum  of$20,000 towards shared infrastructure and servicing costs associated with establishing and maintaining the site for the two year lease. It is expected that costs will vary from site-to-site. These funds would be used towards agree items and activities only, with remaining funds returned to the depositor at the end of the lease.

  • The party would enter into a contract with the Wanda Foundation to offer their vehicle in a rental initiative the head lease site with commitment to have their vehicle on the head lease site for a period of two year and a commitment to make it available for rent under the Residential Tenancy Act 1997 at a fixed price, likely to be $200 per week for a maximum capacity of two people through a two lease residential tenancy agreement

  • The vehicle owner would have responsibility for the selecting tenants for their vehicle and managing the private tenancy as the landlord, under the Residential Tenancy Act 1997

  • The Wanda Foundation would manage the infrastructure needed to operate the site as a residential location, including infrastructure needed to service the tiny home vehicles, such as electricity. The Wanda foundation would also manage the ongoing maintenance of shared infrastructure and servicing of the site, such as water supply and grey water collection.

  • Towards the end of the two year lease, the Wanda Foundation may offer the same or another site for the vehicle to again be offered for affordable rental accommodation

  • Best endeavours will be made to secure an extension for the current site or another suitable alternative site, however, this cannot be guaranteed.  If an extension or another site is not secured or the owner elects to not participate beyond the initial two years, the owner takes possession of their vehicle and removes it from the site

 

Investment Opportunity

  • The overall investment likely to be a maximum of $140,000

  • The maximum income to be generated through the two-year lease is $20,800. No rent increases are permitted during the two year ease and no rent is earnt if the vehicle is not rented, such as in between tenants.

  • The party is responsibility for their direct costs, such as vehicle insurance, landlord insurance and vehicle registration

  • The Wanda Foundation is responsible for the costs of establishing the site ready for residential use and connecting the vehicles to services

  • The party retains ownership of the vehicle.

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