Common Equity Housing South Australia Ltd (Common Equity) was created in 2010 with the support and backing of the Community Housing Council of SA and Housing SA to assist housing cooperatives through management assistance in a climate of increased compliance demand. The purpose of the organisation is to strengthen, support and further develop community housing providers, especially housing co-operatives, by empowering them to build strong communities through providing administration, finance, property management and compliance support. Any surplus funds are invested back into additional services and infrastructure to support members. Common Equity is a member focussed, not-for-profit umbrella organisation with membership of volunteer member-tenant managed organisations or housing co-operatives and associations. Our CEO, Angela Carey, is committed to take the organisation in a new direction and is firmly focussed on growth and development by establishing stronger relationships across the sector and building a more sustainable financial platform.
Points of difference
Common Equity Housing SA is a member focused, not-for-profit umbrella organisation comprising of housing co-operatives and associations and directly managed tenancies.
The core Common Equity model is to provide support services to housing co-ops run by members to enable them to have the time and energy to build strong communities, social networks and better health and wellbeing outcomes for their members
Common Equity currently supports nine member organisations, consisting of 160 properties across the greater Adelaide metropolitan area – from the coast to the hills and the southern suburbs to the north. The regional areas of Moonta, Wallaroo and Kadina, on the Yorke Peninsula, represent 32 of these properties.
Common Equity delivers an umbrella model, which aims to provide successful outcomes for members who provide affordable and secure housing for lower income households and individual .
Member organisations continue to maintain a separate legal status and manage their own governance activities. They are not required to be registered for the National Regulatory System (NRS), or to sign a Master Community Housing Agreement with Renewal SA because Common Equity is the registered body and will manage all compliance and assessment requirements.
Both parties sign a Property and Services Agreement (PSA) that clearly outlines everyone’s obligations so there are no surprises, and member organisations clearly understand the benefits and services provided by Common Equity, and the autonomy and responsibilities retained by the member organisations.
Common Equity has a history of partnering with both individuals and organisations who value a co-operative effort and self-determination to consolidate an independent future in community housing. The respect and values shared by Common Equity Housing SA and member organisations is a great enabler to deliver improved outcomes for both tenants and the broader community.
Common Equity is focussed on delivering an outstanding level of support and service to member organisations. Through our united strength, we will deliver of model of community living that remains true to the cooperative housing ideology.
Our professional business team and volunteer Board are dedicated to work for the best interests of our members.
In recent years, Common Equity Housing has taken on the direct management of 13 housing tenancies when their housing co-operative decided to dissolve. One of the key factors in this changeover was the tenants’ wish to be managed by an organisation who understood their history and culture.
In the last six months the Common Equity Housing team has collaborated with two housing co-ops to become member organisations – Paris Flat Housing Co-op Ltd and Acre Housing Co-op Inc. This process was thorough and rewarding for both parties.
The overall satisfaction amongst Common Equity Housing SA existing member tenants was also evidence in the Tenant Satisfaction Survey conducted by NSW Federation of Housing Associations (the Federation) in May-June 2017. Common Equity Housing SA achieved an overall satisfaction rating of 89% and a 51% response rate. This response rate is well above the National Regulatory System for Community Housing (NRSCH) threshold of 25%, and above the Federation’s industry average of 35%.
The process to transition to Common Equity
If a housing co-op or association decides to transition to Common Equity, we will project manage the process and make sure there is clear two-way communication and transfer of information between all parties. Security of tenure is a critical consideration and Common Equity includes a term of 99 years in the Property and Services Agreement to demonstrate our commitment to the preservation of the tenancies within the application of the Residential Tenancies Act 1995 and the associated Regulations.