Percentage of discounted rent dwellings
58P Percentage of discounted rent dwellings
During the previous financial year, at least 10% of the dwellings in the build to rent development must have been discounted rent dwellings.
Note—
See also section 58ZC for how this requirement applies if the first or only building comprising a build to rent development becomes suitable for occupation before 1 January in a financial year.
A dwelling in the build to rent development is a discounted rent dwelling if it is occupied by an eligible tenant under a discounted rent housing agreement.
Subsection (4) applies if, on 1 or more days during the previous financial year (whether consecutive or otherwise), the percentage of dwellings in the build to rent development that were discounted rent dwellings was less than 10%.
Subsection (1) is taken to be satisfied in relation to the build to rent development if the total number of days on which the percentage was less than 10% was not more than 30 days.
This Act’s bill:Explanatory memorandumSecond reading speech
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