Build to Rent (also known as Multi-Family Occupancy) is a new housing model that could be the solution for the affordability crisis in Australia’s metropolitan areas. This model has taken off very well in the US and is showing a lot of progress in the UK, where it is a younger concept.
Essentially, Build to Rent allows companies that construct residential housing (usually apartment blocks) to retain ownership of them, once built. In current practice, these units would then be individually sold off to investors, who would then offer short term leases, with high weekly rental prices to gain a short term return on their investment. Build to Rent looks to change this attitude, by allowing the construction company to retain ownership of their building and become the landlord.
To offset the risk and initial cash injection needed to build a project, construction companies will offer 5-10 year leases to young families. The lengthy nature of the lease allows the construction companies to lower the rental prices, but still receive a valuable return. It is believed to be a win/win for constructors and renters and would offer a viable option for those looking to live in the expensive Sydney and Melbourne regions.
Furthermore, if it proves successful, there is an opportunity for Build to Rent/Multi Family Occupancy to be considered an asset class and therefore affect the Australian economy even more directly and involved both state and commonwealth governments.
This is a brand-new concept in Australia, with only 2 companies currently involved in such projects. This one-dayer is the only one of its kind in the country and aims to establish itself as the premier event in this fledgling infrastructure model.
President, Global Apartment Advisors, USA
Managing Director – Australia, Greystar, UK
when & where
30 Oct 2017
Radisson Blu Plaza Hotel Sydney
27 O’Connell St
Sydney NSW 2000
+61 (02) 8214 0000
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