It is the first time the property has been offered for rental in 24 years. Kensington provides quality of life and a desirable village feel, a walking distance to university, grocery shops and cafes as well as easy access to the Randwick hospital. [ See Sydney Morning Herald Neighbourhoods - Randwick 6 August 2021 ] On top of all this, the property is ideally located next to the popular race course and the Centennial Park, making it perfect for people who like fresh air as well as other green and seaside spaces. Just a short walk to light rail and bus transport links that will get you around Sydney in minutes.
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Despite high costs of moving to both landlords and tenants, most residential rentals and leases in the Australia run for one year. Multiyear leases are the norm for commercial real estate, such as retail and office. Residential leases lasting for several years are fairly common in Germany and Japan. While raises the question: is there unmet demand in the Australian apartment market for multiyear leases?