Built to Rent
Build to Rent is a term used to describe property that is specifically developed for long-term rentals.
This is a new model compared to the typical real-estate development involving sales to individual owners or individual investors.
Build to Rent is common in the US and also growing in the UK.
On the back of major changes like no commission real estate agents and the predicted drop off of median house prices in Sydney below the $1m mark. Median is essentially the middle value in a string of values.
Sydney reached the $1m median mark in 2015.
Median House Price Movements
A recent article in the Australian Financial Review indicated the change in Median House prices in Australian capital cities.
What drives these moves to Build to Rent?
Essentially a lack of available space in inner-city areas of Sydney, Melbourne and Brisbane drives a move to Build to rent. Build to rent could be another major change in the real-estate market.
Certain segments of the population are renting for longer. The issue of housing affordabilty is driving people to be lifelong renters.
Changing attitudes to bricks and motor ownership is another driver.
Wear and Tear - Painting a Rental Property
"Fair wear" is deterioration caused by the reasonable use of the premises. "Fair tear" is deterioration caused by the ordinary operation of the forces of nature. Importantly, intentional or negligent damage are not fair wear and tear.
Blair Friend an experienced Painter Gold Coast has some advice on tenants rights and repainting your rental property.
The choice of paint and colours are important. Choose a painter with good wall repair skills. The ability to match colours may save a total repaint.
Check more Australian Real Estate Terms.