Build to Rent
Build to Rent is a relatively new model for residential development in Australia.
Before launching into any Build to Rent project, developers should acknowledge the differences to existing build to sell models and tackle the unique issues of Build to Rent ahead of time.
Maddocks has worked on complex residential projects of varying scales over many years and advised on the first Built to Rent/multi-family development in Victoria. We are able to provide a full range of development and property services on Build to Rent including acquisition, tax and structuring, finance, construction delivery, property leasing and management rights. Our experience can support a traditional Build to Rent model, a build-to-rent-to-sell model or other novel forms of Build to Rent projects.
Our latest insights
Build to rent – Tips to avoid the traps
We outline some of the pitfalls to be avoided, including those around securing funding, understanding the tenant market and incorporating the right amenities and building the right controls into construction documents.
New land tax concessions for Victorian build-to-rent developers
The Victorian Government recently released the Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021 (Bill). The Bill provides for an exemption from absentee owner surcharge land tax and a 50% reduction of the taxable value of land used for an ‘eligible build-to-rent development’ for a period of 30 years. These changes are welcome and will incentivise developers to continue to build on the fast-growing momentum in this emerging sector.
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Need more information?
For further information about any aspect of Build to Rent developments, please contact a member of the BTR team.