MR: Passage of build to rent bill an important step

The Community Housing Industry Association and National Shelter have declared the passage
of the BTR housing bill through the Senate as an important step in combating the rental crisis
facing Australia.

The Build to Rent legalisation now contains changes put forward by CHIA, National Shelter and
the Property Council of Australia. These mean tenancies will now be offered for a minimum of
five years instead of three, while incentive payments and tax treatment will catalyse greater
investment in the supply of high quality rental housing.

Build to Rent operators will also be prevented from using no fault evictions and the definition of
affordable tenancies will ensure properties are available to people on moderate and low
incomes, with rents capped below 74.9 per cent of the market value or 30 per cent of income,
whichever is lower.

“This is a critically important step forward,” said CHIA CEO, Wendy Hayhurst. “We have a cast
iron commitment that provides a pipeline of genuine affordable housing managed by the
people who are experts in doing so – community housing providers.

Full media release here