Build-to-rent

Last updated: 8 July 2024 Build-to-rent is a type of medium to high-density residential development, specifically built to provide long-term rental housing.

On this page you can find further information about build-to-rent, including information about the Overseas Investment (Build-to-Rent and Similar Rental Developments) Amendment Bill, apply for an exclusion from the interest limitation rules for your build-to-rent land, and access application guidance and general guidance for build-to-rent tenants and providers.

Build-to-rent includes the development and long-term management of a multi-unit rental property by institutional investors and developers, often financed by institutional capital (options include iwi, pension funds and retail funds) over a 50-year timeframe.

Its benefits include enabling significant dedicated rental supply, including of the most-needed typologies, enabling affordability and providing better tenant experiences and wellbeing outcomes.

Increasing rental supply: Build-to-rent

Build-to-rent represents an opportunity to increase the supply of secure, affordable and quality rental developments in Aotearoa New Zealand.

The Government has introduced the Overseas Investment (Build-to-Rent and Similar Rental Developments) Amendment Bill (the Bill) to make it easier to invest in build-to-rent and similar developments.

The Bill proposes to amend the Overseas Investment Act 2005 to create a streamlined consent pathway (the ‘large rental development test’) to allow overseas investors to purchase existing build-to-rent and similar rental assets, provided certain criteria are met.

The Bill is with the Finance and Expenditure Committee for consideration. The Chair of the Committee has called for public submissions, and submissions are open until 28 July 2024.

You can find information about the Bill on the Parliament website(external link)