In recent years, a new type of rental home has emerged in the UK and we have seen a few of these developments in Crawley, promising to revolutionize the experience of being a renter. Known as "Build-to-Rent" homes, these purpose-built properties are professionally managed by dedicated operators who prioritize customer service values inspired by the hospitality sector. With their focus on creating high-quality living environments and fostering communities, Build-to-Rent homes are gaining traction in the UK's rental market. While currently comprising just 2% of the country's private rental stock, the sector is projected to grow rapidly, potentially reaching 5% and beyond. In London, Build-to-Rent already accounts for 4% of the rental market, and with ongoing developments in the planning pipeline, it could expand to 10%. This article explores the key features and advantages of Build-to-Rent homes and their potential to transform the rental landscape in the UK.
Quality Living Environments and Community Building:
Build-to-Rent providers distinguish themselves by prioritizing the creation of high-quality living environments for residents. These purpose-built homes are designed with the specific needs and preferences of renters in mind, offering modern amenities, spacious layouts, and high-quality fixtures and fittings. From well-equipped gyms and communal spaces to landscaped gardens and rooftop terraces, these developments aim to enhance the overall living experience.
Additionally, Build-to-Rent operators understand the importance of building communities within their properties. By organizing social events, fostering interaction among residents, and offering shared facilities such as coworking spaces and lounges, they strive to create a sense of belonging. The focus on community-building contributes to a higher level of tenant satisfaction and a greater likelihood of residents choosing to stay for longer durations.
Professional Management and Customer Service:
One of the key advantages of Build-to-Rent homes is the professional management provided by dedicated operators. They adopt customer service values inspired by the hospitality sector, offering prompt responses to maintenance requests, efficient issue resolution, and ongoing support throughout the tenancy.
Rapid Growth and Future Prospects:
Although Build-to-Rent currently represents a small proportion of the UK's private rental stock, its growth potential is significant. The sector's emphasis on quality, community, and professional management resonates with the evolving preferences of modern renters. With ongoing developments and increased investment, the number of Build-to-Rent homes is projected to rise rapidly in the coming years.
In London, where Build-to-Rent already accounts for 4% of the rental market, the current planning pipeline suggests that it could reach 10%. The expansion of Build-to-Rent across the UK has the potential to address the demand for high-quality rental housing, particularly in areas where affordability and availability remain pressing issues.
Build-to-Rent homes are transforming the rental experience in the UK by offering purpose-built properties managed by dedicated operators focused on customer service values. With an emphasis on quality living environments and community building, these developments cater to the needs and preferences of modern renters. The sector's rapid growth and increasing investment indicate its potential to play a significant role in the rental market, potentially reaching 5% and beyond of the UK's private rental stock. As Build-to-Rent continues to gain popularity, it brings new standards of professionalism, however not everyone wants to live in a block of flats.