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In the past, there were two main ways to find a home- rent one, or own one. Owning a home certainly has its perks, but it’s also a very expensive proposition, requiring a lot of cash up front, and saddling the owner with all the responsibilities of upkeep. Therefore, the majority of people rent, be it a house or an apartment, paying a monthly fee to be able to call the place home, at least for as long as they pay their rent, or until the landlord decides to sell the place off and kicks everyone out! Both situations have advantages and disadvantages, but recently there is a third way that has emerged that combines some of the security of ownership with the freedom and lower cost of renting.
The new kid on the block we are talking about is called build to rent and it’s rapidly growing in popularity all over Australia! Build to rent means that the developer isn’t building with the aim of selling the property, but rather to maintain it in order to lease it out to long-term renters. Let’s take a look at what makes this such an attractive option for people seeking a secure and pleasant place to live:
- Security Of Tenure – One of the most important draws for tenants is the security of tenure thanks to the longer leases that build to rent developers provide. Tenants can sign a lease for up to three years, giving them a real sense of security knowing they won’t be kicked out after the standard one year so the landlord can give the place to a friend or relative.
- Living In A Community – The tenants of build to rent spaces are living in a vibrant, thriving community, not just a building. There is a communal sharing of space in the many public areas where people can meet to build friendships and form relationships with their fellow tenants. The atmosphere feels more like a friendly local neighbourhood than an apartment building where everyone keeps to themselves and conversation is consigned to awkward greetings in the halls and elevators. The denizens of a build to rent living space aren’t just fellow tenants, they are your trusted friends and neighbours.
- Many Amenities – Build to rent communities feature a ton of built-in amenities so there is always something to do and a space to do it in! Gymnasiums, swimming pools, yoga and dance studios, spas, tennis courts, coffee shops, restaurants, and park areas make you feel as if you are living in a resort more than an apartment building! Not only will you have a great time meeting people, but your pet will also make friends too, since rent-to-build spaces are famed for being pet-friendly and feature built-in pet-oriented spaces like off-leash dog runs!
For more information on the subject of build to rent check out the Australian State of Queensland’s webpage on the subject. If you are looking for a new home maybe a build to rent community is the place for you, and your future neighbours will agree that it’s a great way to live!
