• Andrews Government endorses Built-to-Rent

    2018-10-04

    Andrews Government endorses Built-to-Rent

    The Andrews Labor Government announced at the end of September they would be undertaking a series of actions to help facilitate the implementation of Built-to-Rent (BTR).

    The Build-to-Rent model- building properties to rent instead of selling them to individual buyers – might possibly provide high quality and well maintained rental stock to Victorian renters.

    This builds on the Labor Government’s recent changes to the Residential Tenancies Act, which is focussed on making renting fairer for Victorians.

    As an emerging sector, industry has identified some barriers to development, which the Andrews Labor Government is acting on.

    The Government will be facilitating planning assessment, establishing an industry working group, financially supporting BTR in community housing, clarifying taxation arrangements, and making the case for BTR to the federal government.

    The first BTR approval in Victoria is for a 60-level apartment block on City Rd, Southbank, with several further applications being assessed through the fast track process.

    To read more about the Andrews Government’s efforts in the BTR space, see here.