The idea of Build to Rent is becoming popular in the UK. However, it is not a new concept and has been around in other European countries for quite some time. Build to Rent or BTR is becoming popular because of the increase in demand for temporary or permanent housing in the UK. With BTR, tenants receive a streamlined service instead of dealing with landlords who have limited experience in managing properties.
The good thing about BTR is it offers people a quality lifestyle. Most places built following this concept also provide a wide range of amenities which include restaurants, lounges, cinemas, pools, and health clubs.
The concept is also popular because of the increase in demand among the younger generation. A lot of these people prefer places with space for them to chill and hang out. Even those who have their family also prefer this concept due to the large communal areas available.
Another benefit of BTR is that there are no extra fees or charges asked. It provides tenants with security that they will only pay the same amount each month over a specific period.
Home ownership is still a dream among many residents of the UK. However, due to the cost of properties, home ownership has started to decrease. Add to that the decrease in the average family income. Hence, most people prefer staying in a rented apartment even well up to their retirement age due to the stability of this option.
Is BTR the solution to the housing crisis?
The housing crisis across the country remains a problem. Some people still hope that they can have a home to call their own. It still feels different to own a property than to rent one. However, if the economic problems persist, at the very least BTR can provide housing options to people who can’t afford to buy their own home. BTR also offers improved housing conditions, so even if you decide to stay in this type of residence, you won’t feel bad about it.
Furthermore, given the better management services offered by BTR compared with individual landlords, the latter might step up their game and provide quality services to their tenants. BTR has helped move the standards so that tenants will be in a good and stable position.
You can jump in
Any space can become a part of this programme. You need to partner with the right management company like Native Management UK to help you achieve your goal. They will help transform spaces into quality housing for a lot of potential tenants. They can help you manage the place and provide satisfactory services to tenants. You only need to invest, and they will do the rest.
You can speak with the management company first for consultation purposes before you move ahead with your decision to build the property. You need to understand what it requires, and how much you will be benefitting from it in the end.