Build to Rent Kickstart Fund
Administered by Keystart, the Build to Rent Kickstart Fund is a $75 million initiative, established by the Western Australian Government to encourage investment in the emerging Build to Rent asset class, boosting the supply of secure, long-term rental housing in Western Australia.
Expressions of Interest are now open.
Keystart has opened expressions of interest for the WA Government’s $75 million Build to Rent Kickstart Fund (The Fund), to help attract more Build to Rent projects to WA.
The Fund is available for proponents of Build to Rent developments, providing concessional finance to get Build to Rent projects off the ground in WA.
Assistance available under the Build to Rent Kickstart Fund
The intention of the Fund is to support the sustainable delivery and operation of Build to Rent projects.
If you’re successful in the Expression of Interest process, Keystart may provide you with assistance during either the construction or operational phases, or both.
Construction phase support
Keystart may offer Construction Finance to support project delivery on the following basis.
- As a secondary source of funding, bridging the gap between senior debt and the equity capital needed for the project.
- 30% of the Project Construction Cost (capped to a maximum of $250,000 per dwelling).
- Provided at no interest for the period of construction for a term of up to 3 years.
- Must be repaid or refinanced in full on completion of the development phase (practical completion/issue of occupancy permit).
Operational phase support
Keystart may offer Operational Finance to support Project delivery on the following basis:
- As a secondary source of funding to support private sector investment in the long-term ownership of eligible Build to Rent projects.
- 30% of the Asset Value (capped to a maximum of $250,000 per dwelling).
- Provided at a concessional rate (low interest) for a period of up to 7 years.
- Loans must be repaid in full at the end of the financing period (or as otherwise determined by Keystart).
Affordable rental housing
The Build to Rent development must reserve a total of 30% of dwellings as affordable rental housing. The affordable rental housing must be:
- Available for a minimum period of 10 years; and
- Rented or available for rent under a residential tenancy agreement with a term of at least 3 years.
Rents charged to Affordable Housing tenants must be no more than 25% of gross income, up to the Keystart thresholds of:
- $148,000 for a single.
- $218,000 for a couple.
The Keystart income limits will be indexed yearly by CPI.
Keystart will determine the security requirements for each project. Appropriate security instruments must be provided to secure our interest in the Project.
How to lodge an Expression of Interest
To lodge an Expression of Interest, Respondents will be required to complete all Returnable Schedules in Part B of the Expression of Interest document below, addressing all sections and requirements, and provide all additional information requested in those schedules.
Before preparing a Response, Respondents should ensure they have fully reviewed all information provided in all parts of the Expression of Interest document and fully understand the requirements and Terms and Conditions that apply to a Response.
The information provided in this document may be updated at any time prior to the Closing Time.
Key Information
| Item | Detail | Request Section |
| Response Period Closing Time | Closing Time: 5:00pm – Monday 8 December 2025 | Refer to Section 7 – Lodgement and Enquiries |
| How to Lodge a Response | Section 7.0 – Lodgement and Enquiries, provides full details on how to lodge a Response. Responses must include the Returnable Schedules and supporting documentation. Responses must be lodged by the Closing Time marked as "Expression of Interest: Kickstart Fund'. Responses are to be submitted in writing directed to Keystart via email - buildtorent@keystart.com.au. | Refer to Section 7 – Lodgement and Enquiries Refer to Part B – Returnable Schedules |
| Contact with Keystart | All enquiries concerning the Kickstart Fund or any aspect of this Request are to be submitted in writing directed to Keystart via email - buildtorent@keystart.com.au. Respondents should note that Keystart may not provide a response (including any confirmation, view, or opinion) to any enquiries relating to a submission which a prospective Respondent is or may be investigating in connection with a Kickstart Fund submission. Consistent with the Terms and Conditions of this Expression of Interest, Project investigations and related risk analysis are the sole responsibility of Respondents. | Refer to Section 7 – Lodgement and Enquiries |
