From luxurious amenities to renting rules that favour the tenant, there's a lot to love about the build-to-rent model.

While build-to-rent has been around for some time overseas, it's still a relatively new concept in Australia, but the sector is now set to boom here.

The model eliminates the landlord, with all dwellings in a complex owned by a single entity - one investor or a developer, for example - and professionally managed. To attract long-term tenants, the buildings come with impressive perks, from Tesla car-sharing programs to wellness spas.

As a result, tenants often pay a premium, with the weekly rent usually sitting above market value for the suburb.

However, many tenants are happy to pay extra in order to enjoy the finer things in life.

Luxe amenities a major drawcard

Build-to-rent properties are popping up across the country and they offer some ridiculously cool perks.

Home is a development with apartments in the Docklands, Southbank, and Richmond. Each feature several luxurious amenities in prime locations in the city.

The most recently launched property in Richmond offers a Tesla car-share, multiple large terrace areas overlooking the city, an app that allows tenants to communicate with each other and attend events, a yoga room, fully-equipped gym, and large indoor pool, not to mention a concierge service.

Tenants have access to state-of-the-art amenities in build-to-rent properties. Picture: Supplied

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Mirvac also offers a build-to-rent model called LIV with three sites across Melbourne, one in Sydney, and one in Brisbane.

Tenants in these buildings have access to a host of high-end features including rooftop terraces, co-working spaces, private cinemas, ballet studios, and saunas.

Rent prices are above market value. For example, an apartment in the Home building in Richmond starts at $585 per week, while the median price in Richmond is $375 per week.

However, tenants say that with the inclusion of the gym and multiple entertainment sites, the use of communal spaces means the rent is cost effective.

The build-to-rent offering fuses quality living with high-end ammenities and a community focus. Picture: Home Southbank

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Meredith Johnson lives at Home Southbank with her partner and said they both weighed up the costs before moving in and found it made sense.

"You're paying for convenience," Ms Johnson said.

"I get home from work and I don't have to go out again to get to a pilates class or the gym, it's right here. I also can meet friends in the bar downstairs."

Tenancy agreement appeals to renters

Competition for rental properties is at an all-time-high, as the housing crunch worsens across the country.

On top of the growing price pressures that come with high demand and low supply, tenants also feel at the mercy of their landlords when it comes to what they can and can't do in a rental.

Most build-to-rent properties allow tenants to sign up for longer leases, make changes to their homes, including painting the walls, and allow pets on premises.

Developer Mirvac is very active in the BTR space. This is its Liv Munro project in Melbourne. Picture: Mirvac

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Tenants also need not worry about repairs as on-premises concierge services deal with anything that may go wrong in the apartment.

"The drawcard was that they made the application process so easy, information was really easy to get, they were friendly and welcoming, and the facilities were unreal," Ms Johnson explained.

"There was also the option to make the space your own. I've been in rentals before where if you even breathe on it you're in trouble, but here they were like, 'If you need to put anything up on the wall go for it, if you have any issues we're here for you', so it felt like we were being looked after."

Build to rent developments include Home in Richmond. Picture: Supplied

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As the build-to-rent model makes its mark within Australia, there is also less competition for a place within it as opposed to the traditional rental route.

For examples, in Richmond where Home is located, PropTrack data shows there was a 32% increase in demand for units, from 19 potential renters per listing year-on-year in September compared to 14.5 in the previous period.

However, there is still ample available apartments in the just-completed Home development in Richmond, with occupancy at just over 25%.

Christian Grahame heads up Home and believes the build-to-rent model could help with the current rental crunch by offering tenants an alternative that's secure.

"Vacancy rates in capital cities are low and will keep going down," Mr Grahame said.

"I don't see that build-to-rent is a case of an either or – it's not there to replace homeownership or to replace traditional mum and dad investors. It's there to provide another choice.

"I think Australia needs more good housing choices and build-to-rent helps with that."