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Smart Renter

Why Smart Renter
How it Works
FAQs
About Us
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Introducing
Smart Renter
Purchase your Home sooner!

BrickX Smart Renter helping you get a step closer to owning your own home!

See below for how it works and register your interest to receive more information.

Sign Up Now

We are working through a high volume of requests and as such will temporarily suspend further applications.

Stay tuned for further updates and enhancements to the BrickX Smart Renter offering.

What is Smart Renter?

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1. Choose your property

BrickX creates a shortlist of properties meeting our investment criteria from which you can choose your Smart Renter home. ("Smart Renter Property")

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2. The BrickX Trust buys the property

You buy a minimum 5% of the Bricks in the BrickX Trust that purchases the Smart Renter Property.

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3. Move into your home

You pay the agreed rent on the property.

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4. Save for a deposit

Continue to save a deposit or even increase your stake in the property over the life of the lease and apply for a standard mortgage of your choice, or fund the purchase of the property however you like!

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5. First right to buy

At the end of your lease, you have the first right to buy the property, otherwise you can offer to extend the lease or walk away with the savings you’ve accumulated over the timeframe with BrickX.

Why Smart Renter?

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Feel like a Home Owner

Have a pet? Want to paint the walls or hang a picture? No worries, with Smart Renter, you are not just a tenant!

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Live in the Smart Renter Property

You get to live in the Smart Renter Property, while you save for a deposit or decide what to do next.

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Saving for a Purpose

We can provide general tips that may assist in keeping you on track towards being able to buy the property at the end of the lease.

FAQs

  • Who can apply?

    BrickX Smart Renter has been designed to assist those who are purchasing their home; so that they are able to live in the property sooner whilst they save the standard 20% deposit required for a mortgage.

    Any Home Buyers who are Australian tax residents and are over the age of 18.

  • How is the rent calculated?

    Rent is calculated based on the agreed rate at the time the lease is initiated and will be reviewed on an annual basis to ensure it is in line with agreed lease terms.

  • How does Smart Renter compare to a standard mortgage?

    There are a couple of ways Smart Renter differs from a standard mortgage. For example:

    • Smart Renter is not a loan and is therefore not debt. You are a Brick owner in the BrickX Trust that owns the Smart Renter Property as well as being a tenant.
    • Smart Renter provides you with a first right to purchase the Smart Renter Property without the standard 20% deposit that most banks currently require for a mortgage.
    • You pay an agreed rate of rent, as opposed to a mortgage where you pay either principal and interest or interest only on the loan amount.
    • If debt is used to fund the initial purchase of the property the debt is held in the name of the BrickX Trust and not yours, the debt itself will be secured by the property.

  • How is the property selected?

    The BrickX property team will select a shortlist of properties which meet BrickX’s investment criteria, from that shortlist you will select your home.

    You also have the opportunity to propose properties of your choice which will be reviewed for suitability and alignment to BrickX’s investment criteria.

    The investment criteria are based on a few factors which include such things as the property characteristics, independent valuations, suburb capital growth and yield returns. This information will be shared with the successful Smart Renter candidates to ensure full transparency and collaboration.

  • How long is the lease?

    You can lock in a lease for up to 10 years in which time you will be able to save further, and even continue to buy additional Bricks in the BrickX Trust that owns the Smart Renter Property in which you live.

  • What happens at the end of the lease?

    At the end of lease, you have the first right to buy the Smart Renter Property at either:

    a) a pre-determined purchase price as agreed between BrickX and you; or
    b) the market value,

    How you do fund the purchase of the Smart Renter Property is your choice and if you take out a mortgage this will be done completely separate to BrickX.

  • Can the lease be extended for a an additional term?

    Should you decide not to purchase the Smart Renter Property at the end of lease, you may request to extend the lease by a further period. BrickX will propose resolutions to all Brick Holders of the Smart Renter Property to decide on whether to extend the lease or put the Smart Renter Property up for sale.

  • What happens if I can’t buy at the end of the lease?

    Should you decide not to buy the Smart Renter Property at the end of the lease and the lease is not extended, BrickX will facilitate the sale with all Brick holders receiving their share of the proceeds net of any closing expenses like real estate agent commission.

  • Can I rent or sublease the property?

    For the duration of the agreement, state-based standard tenancy rules will apply.

  • What documents will I need to apply?

    Once you have completed the initial application and have been notified that you are successful, BrickX will request the following:

    • Drivers Licence or Proof of ID + Utility Bill | verifying your identity + address
    • 2 Pay Slips | verifying proof of employment
    • Bank statement | verifying proof of deposit