Renting is now long-term for many Victorians, with a growing number embracing the lifestyle benefits.
The Australian rental landscape has shifted dramatically, with more demand for a good lease than ever before.
Nearly a third of Victorian households were renting according to the 2021 Census, with a 16% increase between 2016 and 2021, and that figure is only tipped to continue growing.
And while for some Australians renting is still the stepping stone to owning, for others, it’s now become a way of life that’s better suited to their spending habits, chosen community and desire for flexibility.
New build-to-rent (BTR) projects are transforming the rental experience, offering renters greater security and more choice, as well as access to great features.
Build-to-rent apartments are on the rise and more Australians turn to long-term renting.
Why lease location is key for convenience
When it comes to choosing the right rental, location is everything.
BTR projects like Local Residential understand this implicitly and are built in high-demand inner-city neighbourhoods to appeal to renters.
Megan Hondromatidis, General Manager of Marketing and Communications at Local Residential, believes that for most renters, location brings a next level of ease.
"It's very much about ultimate convenience and loving where you live," she says.
"Our properties are in highly-walkable locations, so residents are really close to everything they need.”
"They're able to grab shopping without needing to jump in the car, get straight to a train, tram or bus – all the essentials are in easy walking distance, and that's a key difference from many traditional rentals."
She points to Local Residential's new precincts in Kensington and Box Hill as great examples of being in the heart of the action.
Both are only minutes' walk from public transport, shopping precincts, green outdoor spaces, as well as education and health facilities.
Hondromatidis says that most residents don't need cars to get around, which is an added bonus.
The location is just the start of the perks, with precincts also offering sought after lifestyle features like heated pools, fully equipped gyms, wellness spaces and private dining areas.
They also have private co-working spaces, creative studios and big-screen entertainment rooms.
Having all these conveniences in the building has piqued so much interest that Local: Residential projects are already underway in other key locations like Southbank, South Melbourne, Fitzroy and Docklands.
Local Residential chooses locations in vibrant city precincts for ultimate residential convenience.
The pet-friendly difference
For many renters, a house isn't a home without a furry friend, but the reality is that finding a rental that is suitable for pets can be a challenge for tenants.
That's changing.
All the apartments at Local Residential are not only pet-friendly, but there are also facilities that cater specifically for pets.
"There are pet washers with adorable little bathtubs and hot and cold running water for the maximum comfort of your pet," Hondromatidis shares.
"You can wash your pets outside of your apartment. There are dog walking and play areas, as well as pet parks where pet owners can enjoy time with their furry friends."
With a number of pet-friendly and pet-free zones, there's a balance for both pet lovers and those who prefer animal-free environments.
With pet-friendly apartments and spaces, Local Residential means renters don't have to compromise on pet owneship.
The appeal of smart design for modern renters
Inside the homes have also been thought out with modern minimalist aesthetics and designs that maximise space.
There's the choice of studio, one-, two- and three-bedroom apartments that are clean, functional and attractive.
"It's certainly not lacking in features, but it really is maximising every space," Hondromatidis explains.
"Anywhere that we can achieve really clever storage and use of space, we have. There are things like built-in white goods that are integrated into the apartment design and they come as part of your rental: your washing machine, your dryer, your fridge.”
This means residents don't have to worry about their appliances not fitting in the cavity or their washer and dryer not being able to stack – it's already done for them.
She adds that residents can paint the walls and make any non-structural changes.
"We get that people want to make it their own, and we've designed it so they can."
Beyond the smart design, tenants are offered flexibility with lease terms ranging from six months to five years, and a flat-rate bond of only $1,000. The rental experience itself is refreshingly easy too.
Forget competing with dozens of other applicants at open inspections, Local Residential operates on a first-come, first-served basis.
New tenants can book a one-to-one facilitated experience with the leasing team at a time that suits them. Wasting a Saturday morning competing with a crowd of competing applicants is a thing of the past.
Plus, once you move in, the onsite resident team and maintenance staff are on hand to help.
The apartments at Local Kensington and Box Hill are designed to maximise space and lifestyle.
A rental where you can build connections
BTR residences like Local Kensington and Box Hill are also trying to change the long-held lonely apartment-living stereotype by taking real steps to build a community.
To build connection between residents, the buildings host a roster of regular events – from salsa classes and fitness-focused activities to casual social gatherings – giving residents the opportunity to interact and connect.
"People can interact and be as social as they want in these sorts of environments. And if the social aspect isn't for them, that's fine too," Hondromatidis notes.
"But it's nice for residents to have the option, and we know from feedback that having the choice really appeals to a lot of people."
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