In the world of real estate development, a new term is taking centre stage: Build to Rent. This emerging trend has been making waves in the industry, as more and more developers are embracing it as a new way to address the growing demand for rental properties.
But what is Build to Rent, and why is it gaining so much popularity?
In this article, we’ll explore the ins and outs of this new renting model and delve into the reasons why Build to Rent in Australia is becoming such a hot topic.
At its most basic, BTR is a way of developing and managing residential properties that are purpose-built for renting rather than for sale. This means that the properties are designed with renters in mind, with features and amenities that cater to their specific needs and preferences.
Build to Rent properties are often managed by professional property management companies, which ensures that tenants receive prompt and reliable service and have access to a range of support and resources.
There are many reasons why more and more people are moving into community apartments within Built to Rent models.
Unlike traditional rental properties, where tenants frequently come and go without ever building connections with one another, Build to Rent developments actively foster a sense of community and belonging. With shared amenities such as communal lounges, fitness centres, rooftop gardens, and social spaces, residents have ample opportunities to interact and connect with their neighbours. This sense of community is often particularly appealing to young professionals, students, and individuals who are new to an area and looking to build social connections.
Because Build to Rent apartments are purpose-built for renters, they offer a range of features and amenities that traditional buy-to-let properties often lack.
UKO’s BTR developments, for example, include spaces such as communal areas, gardens and gyms, where residents can socialise with their neighbours and foster stronger community bonds.
Build to Rent apartments are thoughtfully designed with renters in mind, which means they can offer more flexibility than traditional buy-to-let properties. For tenants, this may mean shorter rental agreements, or the ability to move between properties within the same development if their needs change.
To understand why the Build to Rent concept is gaining popularity, it’s important to examine how it differs from traditional rental properties.
Unlike traditional rental properties, which are often converted from existing buildings or homes, Build to Rent housing is purpose-built for renting from the ground up. This means that everything from the layout and design of the properties to the amenities and services on offer is tailored specifically to the needs of renters.
For example, UKO’s Build to Rent apartments are designed with flexible living spaces that can accommodate a variety of lifestyles and family sizes. This means they have more open-plan layouts, larger windows to let in natural light, and built-in storage solutions to maximise space. UKO also prioritises energy efficiency, sustainability, and smart home technology to create a modern, comfortable living experience.
In a Build to Rent model, a single entity typically owns and manages all of the rental properties within the development. This differs from traditional rental properties, where landlords might own and manage one or a few properties scattered throughout a city or region.
The single ownership or management structure of Build to Rent developments offers several key advantages for tenants. The structure of BTR can mean a more streamlined and efficient rental process, with a single point of contact for all issues. This can make it easier to resolve problems and ensure that the property is well-maintained.
With UKO’s Build to Rent, for example, each development has a dedicated community manager who oversees and manages all aspects of the resident journey, including organised events. This hands-on approach to management offers numerous benefits to residents and helps to create a thriving community.
Higher quality amenities and shared spaces
BTR developments typically include a range of amenities and shared spaces are often provided for the exclusive use of residents. This might include things like gyms, swimming pools, communal lounges, coworking spaces, roof gardens, and more.
By offering these amenities and shared spaces, Build to Rent companies aim to create a more attractive and convenient living experience for their residents.
More flexible lease options and customisability for renters
BTR developers understand that today’s renters have different needs and priorities than previous generations, and they’ve
Ready to experience the world of Build to Rent for yourself?
With multiple locations across Australia, including our UKO Ryde apartments, Camperdown apartments and Royal Park apartments, UKO offers top-of-the-line Build to Rent properties that are sure to exceed your expectations.
But don’t just take our word for it. Book a tour today at one of our UKO locations or contact us to see for yourself how UKO is reinventing modern living.