Hustlenomics has identified a gap in the backyard rental accommodation in townships and the aim of the project is to provide alternative housing to backyard dwellers around townships in Gauteng. The aim of this project is for it to expand to other townships around the country. Using alternative brick and alternative energy technology we will be targeting low income households in the townships with backyard shacks erected in their back yard either to accommodate an expanding family, or as a source of rental income.
We have identified that these families are those who cannot access financing or afford to better their homes. As a result, Informal back yard structures dominate properties around townships. This is a result of expanding housing demand in a context where state-subsidized housing delivery is too slow to meet the accommodation needs of the urban poor.
We will replace these backyard shacks with formal backyard structures built using alternative brick and alternative energy technology at no cost to the home owners to create a passive and sustainable income once the formal structure has been erected. We then recoup this cost from the rental income and share a percentage of that to the home owner to generate a sustainable income and in the process own back a single unit annually until they own back the whole structure within 30 to 36 months.