James Kelly’s pioneering Victorian creation, Lifestyle Communities, settled another 110 homes over the six months to December, taking the total developed over 10 years to 1,256. Net profit before tax was $13.7M.

Lifestyle Communities has nine established sites plus three in early development stage. The 1,256 homes generated $5.5M in rental (cash) income over the six months – close to $1M a month. Unusual for an LLC operator, they also charge a DMF – capped at 20% after five years.

One in three sales come from resident referrals.