Playing a key role in providing quality and affordable homes for those who cannot yet afford to buy, Build to Rent (homes designed and built specifically to be rented) is gaining remarkable momentum within the city’s rental sector. There are now over 60,000 BTR properties complete or under construction across the country, and twice as many nationwide.
As a concept, BTR focusses on the needs and aspirations of its renters, aiming for the highest quality and standards of housing and living. Why? Because a failure to do so would result in unsatisfied tenants and expensive, unoccupied homes.
So what’s the appeal?
As it becomes increasingly obvious that London must at least double its rate of housebuilding if it is to adequately house its growing population, and the gap between social housing and home ownership becomes ever wider, Build to Rent has stepped in as a middleman, offering functional, well-managed, and stylish private-rented housing for modern professionals.
Though general demand has increased across all demographics, it is predominantly driven by millennials and those aged 35-45.
Whether your preference is a a central location or a state-of-the-art new apartment, Build to Rent can provide this alongside rental security and flexibility, which holds an obvious appeal over the crippling mortgage commitment and inevitably long commute that comes hand in hand with buying a house.
Equally important to renters is the trust and service provided by Build to Rent Landlords. In 2018 there were 101, 614 complaints made against private Landlords across England and Wales, resulting in less than 1,000 prosecutions.
Renters are increasingly concerned about irresponsible Landlords, who are often more focussed on short-term profits than health and safety or long-term relationships.
In contrast, BTR Landlords are investing heavily in building their brands based on providing a quality experience. Properties are built at consistently high standards and maintained by reputable managers from both the housing, and hospitality sectors.
In terms of the actual ‘living’ experience, aside from long tenancies and convenient transport links, it seems the most appealing factor is a sense of community within BTR developments.
Offering trendy amenities such as gyms, games rooms, rooftop gardens and laundry services, all generally included within the price of rent, BTR properties offer new standard of living.
These are rental properties that are designed to feel like permanent homes, rather than simply a place to stay.
As one of the earliest cleaning companies to have a dedicated section for Build to Rent proprieties, and with a growing number of large-scale clients across the city, Remora Cleaning is well positioned to provide cleaning services for your Build to Rent Property.
Remora is a London-based cleaning and property services company, offering the highest levels of customer service and flexibility across our range of services. Find out more about what we can do for your property here.