Build to Rent – What is it and Who is it for?

What is Build to Rent?

Build to rent (BTR) is an increasingly popular type of development designed to address the problems facing renters. Most commonly these developments are apartment blocks built specifically for renters. They often offer longer term tenancies, good communal spaces and a dedicated on-site manager.

There is only a small number of these type of developments currently available; but it is a growing sector and it is expected to increase dramatically in the next two years.

According to research carried out by Dataloft, the British Property Federation, London First and UK Apartment association, the statistics are encouraging:

• 58% of BTR residents are couples and sharers.
• BTR renters pay on average less than a third of their income on rent.
• BTR is popular with younger people with 75% of tenants aged under 35.
• Popular with professionals and students alike.
• BTR properties are considered a premium rental, providing amenities and services that can command a higher rent.
• In London rents were found to be 21% higher in BTR developments than in the equivalent private rental sector (Source: Estates Gazette).

Image Source: who-lives-in-build-to-rent-report.pdf

For further information, please contact Ed or Kelly on 01284 365345 or email ed@granitebw.co.uk / kelly@granitebw.co.uk.