In recent times Perth has been hit hard by a rental shortage. You might have experienced this yourself – struggling to find a home within your budget.
This is due to a lack of supply of affordable housing. One solution that the UDIA WA thinks could help, is a new concept called “Build to Rent”.
The traditional model is build-to-buy which is where the developer sells individual apartments to buyers. But build-to-rent means that the developer leases out the apartments to tenants. Currently, there are some obstacles with government tax policy but if we can review these laws it will mean much more affordable housing options for Perth will become available in the future.
One leading developer that is delivering successful build-to-rent projects around Australia is Sentinel Real Estate Corp – the group behind the fantastic Element 27 development in Subiaco.
This is one of three build-to-rent projects Sentinel have in Perth right now and 100% of the apartments in Element 27 were leased within nine months. It offers great facilities, community amenities, on-site maintenance, and a variety of lease periods so it’s a brilliant option for a lot of people.
As you’ll learn through our stories the UDIA is committed to looking at ways to deliver quality, affordable living options to the WA community. Check out udiawa.com.au to find out more