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Renters could occupy their homes for decades under radical plan being pursued by the government; Government very keen to create a "build to rent" sector
Topic Started: 12 Aug 2017, 08:58 PM (788 Views)
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How renters could never leave under radical plan being pursued by the government

Sydney renters could occupy their homes for decades or might even pass them down to their children under a proposal to increase the supply of affordable and stable housing for people locked out of Sydney's surging property market the NSW government announced it was developing on Friday.

NSW Treasurer Dominic Perrottet said the government was "very keen" to look at creating a "build to rent" sector of property development in NSW to make housing more stable and affordable for the one-third of Sydney-siders who rent.

The build-to-rent sector has big investors build apartments to lease on a long-term basis, sometimes indefinitely. Investors receive steady returns; renters get steady living arrangements in turn, advocates say.

In a speech to the NSW Property Council Mr Perrottet said the government had already begun exploring options for incentivising investors to build for steady rental returns in favour of windfall profits, which some analysts say have held back the model especially in Sydney's growing market.

"Current property prices make the dream of home-ownership more difficult than for past generations," he said "But for long-term renting to be a viable alternative, it has to be affordable and it has to be secure.

The rent-to-build approach is popular in Europe, where it is not uncommon for rental properties to be occupied by a sole tenant for decades. In countries such as Germany or Denmark infinite leases are available and apartments are passed down between generations.

A third of Australian households rent and more than 40 per cent of those have been in the rental market more than 10 years or more.

A 2017 survey by consumer group Choice found that the short-term nature renters lived with widespread anxiety with one-in-five fearing eviction and nearly 10 per cent being evicted on a "no grounds" basis at least once.

Read more: http://www.smh.com.au/nsw/how-renters-could-never-leave-under-radical-plan-being-pursued-by-the-government-20170811-gxuk2w.html
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Rufus
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A landlords dream.
Take risks - if you win you will become wealthy, if you lose you will become wise
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stinkbug
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Rufus
12 Aug 2017, 09:29 PM
A landlords dream.
Indeed. Bring it on.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Rat
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Filthy Rodent

Excellent. The renting underclass will become entrenched. Black Panther's transmutation is unfolding as predicted. :tu:
Edited by Rat, 13 Aug 2017, 08:06 PM.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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herbie
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Hmmm - I think I's off ta watch some Satchmo:

https://www.youtube.com/watch?v=PHFveRxXfM4&list=RDPHFveRxXfM4#t=28

https://www.youtube.com/watch?v=T2r6phT5GN4

But here's one ta cheers ya all up regardless:

https://www.youtube.com/watch?v=wyLjbMBpGDA

Even if tha poor silly cnts is too silly ta moves outta Sydvegas/Melvegas ... :)


A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Ex BP Golly
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Rat
13 Aug 2017, 08:05 PM
Excellent. The renting underclass will become entrenched. Black Panther's transmutation is unfolding as predicted. :tu:
It give you great joy to call others an underclass doesn't it.

You act like some new age colonial exclusive wannabe Australian aristocratic landlord.

Wait till you realise you are equally located at the bottom end of the food chain, and will too be equally exploited.

You however are actually more expendable then the working class you despise.

Don't forget it.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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