The Johannesburg Social Housing Company (JOSHCO) needs to find alternative streams of income to become a financially sustainable business, according to CEO Victor Rambau.
He says most companies are retrenching, which makes it difficult for retrenched employees to honour their monthly rental fees, and that affects Joshco operations because they depend on rental income.
“It also becomes difficult for us to maintain our buildings because we don’t have enough money as a result of financial challenges that most residents are facing. We need to be innovative and come up with a new business model,” Rambau explains.
JOSHCO is a City-owned entity responsible for providing and managing affordable rental housing for lower income earners and students residing within the City of Joburg.