Build-to-rent housing is designed and built to provide long-term rental homes, rather than sold to homebuyers, providing an alternative to home ownership.
Build-to-rent offers longer leases, often up to five years, which give tenants security of tenure. This helps renters avoid the 12-month “leasing cycle”, which can leave them looking for a new home every year. Annual rent increases are often locked in upfront, so tenants have financial security and know their rents will not escalate rapidly or unexpectedly.
Because of the longer-term tenancies, often many build-to-rent tenants are allowed to paint walls, hang pictures, keep pets and really set up home. They settle down, make new friends and build a sense of community.
At our Camperdown project, at least 200 build-to-rents will be offered to essential workers at a discount to market rent. These properties will be retained in government ownership, with details on how to apply and the rental subsidy made available closer to project completion.