› Flat Chat Strata Forum › From the Front Page › Rental commish has pet bans, evictions in sights › Current Page
There must be a reason they aren’t bigger players. Are they myopic about good deals? Is land tax the problem? I understood Mirvac’s offerings were more like resorts, hardly a major need presently.
Historically there has been a reluctance to encourage build-to-rent due to a perception that they would be cheap and nasty and targetted at the lower end of the demographics. But states and LGAs are now realising that they can be very nice places indeed and significant players in the market.
As for them being resorts, I’ve been in a Mirvac development and it was clean, well-appointed and had plenty of facilities. Renters were able to chose their own colour schemes and the basic lease was for one year with rent increases locked to the CPI. On the other hand, tenants couldn’t park their cars in their apartments.
The residents i spoke to were very happy, not least because there was no strata committee faffing around getting involved in stuff they didn’t need to, or ignoring issues where their attention was required.
Build-to-rent is one of the fastest-growing sectors in the accommodation market and it will become increasingly significant (though not dominant, because the rents are higher).