How Build to Rent Developments Can Secure Longer Term Tenancies

woman at home on the sofa cuddling their dog

Taking community living to the next level, offering an enhanced living experience

Built for Renters developments are emerging as a compelling alternative in the evolving landscape of the UK’s property market. These purpose-designed apartments cater specifically to renters, offering an enhanced living experience that goes beyond the ordinary.

Unlike conventional rental properties, these homes cannot be sold but remain under the ownership of a single landlord or management company. It’s typical for such properties to be newly built, mirroring the appeal of a brand-new home you might decide to purchase.

Providing stability and security

Built for Renters homes can provide added security and stability for those seeking long-term tenancies or wishing to establish more permanent roots. It’s not unusual for three-year tenancies to be agreed upon, making them an ideal choice for those planning to stay in one place for a while or families needing to remain local to a school.

Beyond the prospect of securing long leases from the start, Built for Renters properties often stand out due to the facilities they offer and their high-quality construction.

Modern living standards

The advantage of constructing new apartment blocks is that they are inherently modern, energy-efficient, incorporate the latest technology and are finished to an exceptional standard. The property typically handles on-site maintenance and repairs, eliminating the need to call a tradesperson. Unsurprisingly, residents of these homes often compare it to the hassle-free lifestyle in a hotel!

Tailored living spaces with added perks

Built for Renters properties aren’t just homes – they are lifestyle hubs equipped with an array of on-site facilities. Imagine the convenience of having gyms, spas and social spaces right on your doorstep. But these amenities aren’t just about luxury; they also foster a sense of community among residents.

Creating community through social engagement

These properties take community living to the next level with organised social events and groups. This allows residents to connect, engage and form a vibrant community, making it more than just a place to live.

Streamlined support and maintenance

Forget about taking time off for repairs or maintenance. Built for Renters developments come with dedicated on-site support and maintenance teams, ensuring any issues are addressed promptly without disrupting your daily routine.

Round-the-clock concierge service

The convenience doesn’t stop at maintenance. A 24-hour concierge service ensures you never miss a delivery again, adding another layer of ease to your rental experience.

Secure tenancies and transparent pricing

Built for Renters properties offer greater stability with longer tenancy options, often extending beyond three years. Also, the pricing structure is transparent, so increases don’t catch the tenant off guard.

Ensuring fair treatment for renters

Like traditional landlords, those managing Built for Renters properties must be members of a recognised ombudsman scheme and have a proper complaints procedure. This means that should an issue arise, there’s a set process to follow, ensuring your rights and interests are protected.

Want to explore this investment opportunity further?

If you’re intrigued by the Built for Renters concept and want to explore this investment opportunity further, don’t hesitate to get in touch. We’re here to provide all the information you need. To learn more, contact our team here.

Please note: any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.

Author:
Matt Karagul
Specialist Finance Adviser
CONTACT

Related Articles

26% of Landlords Plan to Expand Portfolios in 2024

Despite the current economic climate marked by high inflation and increasing interest rates, many of the UK’s landlords remain largely unfazed and continue expanding their property portfolios. This trend is observed even as these conditions negatively impact buyer confidence in the market. According...

Read More

Key Considerations When Selling a Buy-to-Let Property

Marketing it as a tenanted investment or a vacant property? If you own a buy-to-let property and are considering selling it you’re presented with two possibilities. You can market it as a tenanted investment or a vacant property. Selling as vacant often appeals to a larger...

Read More

How to Vet Tenants to Avoid Rental Nightmares

Non-paying tenants rank high among landlords’ nightmares Falling prey to a non-paying tenant ranks high among landlords’ nightmares. However, implementing a few precautions before letting out your property can significantly mitigate this risk, saving you time, stress and money in the long run. If you opt...

Read More

26% of Landlords Plan to Expand Portfolios in 2024

Despite the current economic climate marked by high inflation and increasing interest rates, many of the UK’s landlords remain largely unfazed and continue expanding their property portfolios. This trend is observed even as these conditions negatively impact buyer confidence in the market. According...

Read More

Key Considerations When Selling a Buy-to-Let Property

Marketing it as a tenanted investment or a vacant property? If you own a buy-to-let property and are considering selling it you’re presented with two possibilities. You can market it as a tenanted investment or a vacant property. Selling as vacant often appeals to a larger...

Read More

How to Vet Tenants to Avoid Rental Nightmares

Non-paying tenants rank high among landlords’ nightmares Falling prey to a non-paying tenant ranks high among landlords’ nightmares. However, implementing a few precautions before letting out your property can significantly mitigate this risk, saving you time, stress and money in the long run. If you opt...

Read More
}