Build to Rent COVID-19 guide, Coronavirus Buildings Advice, Pandemic Construction Tips
COVID-19 Impact on Build to Rent
2 Oct 2020
While the coronavirus pandemic has taken a lot away from us all in the last nine months, it may provide the push that?s needed to turn Build to Rent into an Australian residential mainstay.
COVID19 and Safe Office Design
In the US, it?s a trillion-dollar industry, covering more than a quarter of the nation?s investment in real estate. In the UK, it accounts for around £70 billion of developments. Yet in Australia, it has barely managed to establish a foothold. Now, thanks in part to the fall-out from the COVID-19 pandemic, Build to Rent may be an idea whose time has come.
Essence Apartment Building in Perth, Western Australia:
Under the traditional build-to-sell ethos, a large residential development gets sold off piecemeal ? a unit here, a unit there. Build to Rent, on the other hand, keeps the ownership of the entire project with the developer or investors, who then rent out the units while retaining title. This provides a host of benefits for investors, developers, and tenants alike, including centralisation of building management, improved facilities and longer-term secure financial returns.
All of which would seem to make the strategy something of a no-brainer, especially given the developing residential conditions from the last few years. The number of rental households in Australia has risen by half a million in the last decade, mirror...