Build to Rent (BTR) is a relatively new and increasingly popular housing model designed to contribute to the supply of more homes amidst the growing rental crisis in cities around the world.
Unlike traditional residential developments, which are built for individual sale, build to rent properties are developed specifically for renting.
These purpose-built communities offer the everyday renter greater flexibility, security, and often a better living experience compared to traditional renting.
But what exactly is Build to Rent, and how does it work?
What is Build to Rent?
Build to rent refers to a housing model where entire buildings, or even entire communities, are built with the intention of being rented out rather than sold.
The owner maintains and manages the property, leasing the apartments direct to renters, managing everything from maintenance to tenant services.
The big difference here is that one company or group manages the entire property. This means things like maintenance, repairs, and amenities are all handled in-house, often leading to better service, faster fixes and a better living environment for residents.
This model has gained traction in countries like the UK, US, and has recently landed in Australia, where the housing market is facing issues like affordability and a lack of quality rental options.
These developments offer a variety of apartment sizes, from studios to multi-bedroom homes, making them suitable for individuals, couples, shared living, and even small families.
The benefits of Build to Rent
1. Long-term leases
Unlike traditional rentals, where tenants may be forced to move out due to the sale of the property, Build to Rent developments are designed with long-term tenants in mind. Leases often last several years, giving renters more stability and reducing the risk of having to move unexpectedly.
2. On-site management
Build to Rent properties usually have dedicated on-site management teams responsible for maintaining the building and addressing any issues. Whether it’s a repair or general maintenance, there’s a dedicated team on hand.
3. Amenities
Many Build to Rent developments offer a wide range of amenities for residents, such as gyms, coworking spaces, pools, cinema rooms, and even rooftop gardens. These amenities improve the overall living experience and build a strong sense of community among tenants.
4. Flexible living arrangements
Build to Rent developments cater to a wide range of tenants, offering flexible lease terms and a variety of apartment sizes. Some developments are also pet-friendly, and tenants often have more freedom to personalise their living spaces.
5. Predictable rental expenses
Many Build to Rent developments offer rent stability, meaning that rent increases are capped or set in advance for the duration of the lease. This gives tenants greater peace of mind and financial predictability.
Why is Build to Rent growing in popularity?
Build to Rent popularity is growing fast, and it’s easy to see why. More people are choosing to rent long-term, whether it’s because homeownership is out of reach or they simply prefer the flexibility renting provides.
Renting, especially with build to rent, gives you the freedom to move around and try out different lifestyles without being tied down.
It’s also popular because it caters to the modern renter’s lifestyle. People want more from their homes now—whether that’s access to amenities, long-term stability, more modern and sustainably designed buildings, or being part of a community. Build to Rent apartments in Melbourne are becoming very popular for this reason..
Build to Rent is changing the landscape of the rental market by offering tenants a more secure and flexible rental experience.
As cities continue to grow and the demand for high-quality rental housing increases, Build to Rent is likely to play a crucial role in meeting this need.
