As the rental market continues to evolve, a new form of rental property has emerged – build to rent (BTR). These are purpose-built rental properties that offer a range of amenities and services specifically designed for renters. While traditional apartment buildings and family homes continue to be in fierce demand in the capital, build to rent has become an alternative for some.

Here are five reasons why:

1. High-quality amenities: They are designed with the renter in mind, and as such, they offer high-quality amenities that are specifically tailored to meet renter needs. These may include gyms, co-working spaces, communal lounges, games rooms, roof terraces, and even cinema rooms. Many of these amenities are free to use, and they are maintained to a high standard by the building management team.
2. On-site management: The property management team is on hand to deal with any maintenance issues, and they are also responsible for the upkeep of the building’s amenities. In addition, they can provide concierge services, which might include arranging dry cleaning, booking taxis, and accepting deliveries.
3. Flexible contracts: Build to rent buildings offer a range of flexible tenancy agreements, which can be tailored to suit the needs of individual renters. In addition, build to rent often offers the option of furnished apartments, which can save tenants who want a “ready made” experience the hassle and expense of buying and moving furniture.
4. Community spirit: Build to rent buildings are designed to foster a sense of community. They often have communal areas for socialising, and they may also host events and activities that bring renters together. This can be particularly appealing to people who are new to an area and are looking to make friends and connections.
5. Energy efficiency: Build to rent accommodation is designed to be energy efficient, which can help to keep utility bills down.

Build to rent schemes have become increasingly prevalent in London, with 550 developments either completed, under construction or in planning stages throughout the capital. The concept has also gained significant traction in regional cities, especially Manchester and Birmingham.

*Image: Bloom Nine Elms by Greystar

Further information

Contact Jess Exley

Understanding the Renters (Reform) Bill