It’s time for a rental revolution – meet Build to Rent.
They are generally located in city centres within walking distance of key transport links, but can also located in the regions. These developments are owned by large-scale corporate investors and managed by specialist operators.
A hallmark of Build to Rent is professional management, with brilliant amenities often available onsite, offering residents bespoke lifestyle options for as long as they want to stay. It is a paradigm shift – the tenant becomes the customer, and the rental is the service. Amenities like on-site maintenance staff, lounges, gyms, and lobby cafés are attractive drawcards.
Build to Rent is a sustainable approach to living, with a clear focus on achieving positive environmental outcomes. This is often reflected in sustainable approaches to construction as well as a focus on achieving high Homestar and Greenstar ratings. One way of reducing our emissions is to encourage high quality intensification of our housing supply. Build to Rent is typically located in or near towns, cities and key public transport routes.
Build to Rent offers the ability to stay long-term, without the worry of what may be around the corner. Long-term leases allow residents to confidently put roots down in their home and neighbourhood.
Living in a Build to Rent development means living in a quality home where maintenance requests will be dealt with promptly, and where service and quality is of upmost importance. After all, the tenant is the customer.
Residents get high-quality, convenient living without the costs associated with buying; investors get stable rental revenues without the hassle of managing new leases every six months. Build to Rent offers residents long-term contractual certainty, so they can put down roots and be part of a community.
No. Build to Rent is for all ages and suits a wide range of people looking for a stable, long-term place to rent. This could be a young professional, but it could also suit a single-income person, or a retired couple that values living in a multigenerational environment.
The beauty of Build to Rent is that the developments are purpose built for the rental market, with developers having the ability to control the quality of the product. Because Build to Rent developments are built for long-term ownership, developers are more likely to invest in quality fixtures and finishes that will stand the test of time. In the Build to Rent model, residents are treated as valued customers, with a focus on delivering great service in a competitive Build to Rent marketplace.
One in three Kiwi households are now renting. Build to Rent is one of the fastest growing sources of housing worldwide, with global investors readily backing this new way of living. Build to Rent offers a rapid opportunity to increase the supply of rental homes in Aotearoa New Zealand.
With rent to own, Kiwi’s rent a home for an extended period of time (for example, 20 years) at an above-market rate in order to build up a deposit and buy the house. However, often the owner doesn’t own the land, just the dwelling. Build to Rent is where Kiwi’s rent a home for the long term and have access to its desirable features.
The answer is both. Different Build to Rent developments will cater to different segments of the market. The more that this type of living is unlocked in Aotearoa New Zealand, the more options there will be for all types of Kiwi renters.
Many investors require HomeStar or GreenStar ratings for their developments, which means that Build to Rent developments represent international best practice in sustainable construction. The result is reduced emissions in the New Zealand context.
Build to Rent does not aim to replace mum-and-dad investor landlords; rather it adds an additional option to the property market. The scalable nature of Build to Rent has been proven to attract large-scale investment.
Build to Rent is a housing solution that has great potential for all regions of New Zealand. We could see different Build to Rent developments across Aotearoa, all with their own size, scale and features.
With thanks to our industry partners