Q&A with BTR Leasing Strategist, Nicole Hiddlestone

As an BTR specialist in demand for podcasts, media and at events, Nicole Hiddlestone has unique insight into Australia’s BTR sector. A property management and leasing specialist for more than 20 years, Nicole has managed the successful leasing of large Build-to-Sell projects and entire rental rolls – and applied these insights to Australia’s fast-growing Build-to-Rent sector. We sat down to pick her brain on what’s happening locally.

Where are we at with Build-to-Rent in Australia?

Build-to-Rent in Australia is at a pivotal moment, with around 20,000 units now complete or under construction, cementing it as a serious contributor to housing supply. But challenges remain: high rents are pushing up vacancy rates, and our taxation settings are making it hard to attract the international investment needed to continue to scale. As more buildings reach the 12-month mark, the lessons, and the adjustments, are starting to roll in. It is an enormously interesting time.

What do you think we’re getting right with the offer here?

In Australia, BTR is getting the resident experience right, prioritising professionally managed, secure, and flexible living that renters increasingly value. Many developments are integrating high-quality amenities, great locations, and a sense of community that traditional rentals often lack. We’re also seeing growing investor and developer commitment, which is helping to establish BTR as a viable, long-term housing model.

And what needs to change?

Pricing remains our biggest challenge. Some buildings are well above market rate, relying on amenity to justify the premium, but that strategy isn’t always working. Instead of defaulting to high rents or traditional square metre pricing, owners should adopt a more intelligent, apartment-by-apartment approach to maximise margin. Great service also drives conversion. Simple touches like showing renters exactly where their car park is make a difference, yet are often overlooked by many leasing agents.

What do renters think of BTR – is it understood?

Renters in Australia often don’t fully understand BTR. They may have seen the project but aren’t aware of key benefits like longer lease terms, five years or more. For most, the priority is simply finding a property in the right location and size – the rest is less important. While great amenity is a bonus, price is usually the dealbreaker. You can offer all the amenity in the world, but if it’s not within budget, they won’t rent. We spend a lot of time explaining the benefits of BTR, though for many renters, it’s still not a major consideration.

Are people paying for amenity?

There are two main types of BTR: luxury with high-end amenities, and what we call affordable options. Every renter has a strict price cap when searching online – if a luxury BTR option is $300 more per month, many won’t even consider it, regardless of the amenities offered. Developers often mistake this as an affordability issue, but it’s really about staying within budget. Many renters in their late 20s to early 30s have disposable income but prefer to spend it elsewhere, like on travel. Job security is uncertain, and they value lifestyle flexibility, so they choose middle-priced options to keep rent manageable and decide where else to spend their money, rather than having it bundled into higher rent.

How important is community and how do you establish it?

Residents want a sense of belonging and pride in where they live – it encourages them to stay longer and renew their leases. But this doesn’t have to come from organised activities as most developers think. We’ve found that pets naturally bring people together. Having good pet facilities is one of the best things that a building can include. It is also really important to ensure a good leasing team is discerning on the renters moving into the building. BTR is very popular among single professionals, and they’re looking for an environment where they can feel safe, socialise and also retreat into their own home.