Arc Onehunga is one of a host of new apartment developments springing up in the established inner-Auckland suburb, Stuff reports, but it has one key difference: it is a purpose-built rental-only complex. Arc chief executive Kent Gardener said the renting model in this country was broken, and the build-to-rent sector offered renters security of tenure. “We aim to revolutionise renting, with quality homes built, owned and managed with care for the long term by Arc for residents.” While the build-to-rent concept is relatively new to New Zealand, it is well-established in countries like the US, the UK and Germany.
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