Providence Rental Lifestyle Community Yarrawonga fills a gap in the market giving seniors a quality housing affordability option.
Demand for new property solutions driven by housing affordability and rental crisis has paved the way for a build-to-rent boutique over 50s lifestyle community in Yarrawonga.
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Providence Rental Lifestyle Community Yarrawonga is expected to start construction soon after receiving a development approval for its long-term lifestyle rental community.
Weekly rental fees start from $309 a week and there are no rates or taxes. Residents will be able to lease one, two or three-bedroom homes in a secure, gated community for between 10 and 19 years, with no entry or exit fees or quarterly rent inspections and no market reviews for the term of the lease.
Providence Yarrawonga Director Dean Cook said the concept addressed a gap in the market and would give seniors struggling with housing affordability, security or rental issues a fresh option.
“Many over 50s do not want to tie up their money in property. Or it doesn’t suit their financial position – and many are reticent to rent short-term because it doesn’t offer them enough security and certainty and moving house every 12 months is harder when you’re over 50,” Mr Cook said.
“Build-to-rent boutique lifestyle communities address these issues and operate in just the same way as renting a private home so, in time, they will play a part in easing the rental crisis for seniors.”
Residents have access to communal facilities including a clubhouse, alfresco area, and bowling green, and pets are allowed as each 6-star energy rated home is on its own fenced lot with a private garden and entertaining area.”
Mr Cook said the project was attracting a high level of interest from downsizers, ‘rightsizers’ and retirees who want to move from the city.
Residents at Providence Rental Lifestyle Community Yarrawonga will have access to communal facilities including a clubhouse, alfresco area and a bowling green.
“We believe these build-to-rent boutique lifestyle communities are the way of the future and predict they’ll become commonplace, just as build-to-buy lifestyle villages have,” he said.
“The tenure security, facilities and companionship on offer caters to a growing but underserviced demographic.
“We’re also finding the pandemic has prompted many people to place a greater emphasis on safe social connection, further boosting demand for community living spaced in the right way and detached housing brings a more spacious resort feel than high-rise apartments.”
Each home is on its own fenced lot with a private garden and entertaining area and the broader community design encourages healthy, active living. The homes are architecturally designed and constructed in Victoria by Fleetwood.
There are no mandatory capital improvement levies.
The Providence Management Team has more than 80 years’ experience in creating, building and managing lifestyle communities.
By popular demand a seminar on the development will be held on March 19 at 10.00am for a 10.30am start at The Sebel Yarrawonga Silverwoods. Only 60 tickets are available and you must be double vaccinated with proof of vacs and driver’s licence. Morning tea and coffee provided
Head to yarrawonga.providencelifestyle.com.au for further details or contact Karen Van der Steeg, Yarrawonga Lifestyle Coordinator on 0475 755 981.
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