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What is Build-to-Rent? - Essential Living

What is Build-to-Rent?

Blog Guide to Renting

Build-to-rent (BTR) is an exciting, emerging new sector in the UK housing market. Inspired by what’s available in large parts of Europe and North America, where it is known as ‘multifamily housing’, build-to-rent has emerged in response to soaring demand for quality rental housing, with new developments reflecting the changing needs and priorities of modern renters.

How Do We Define Build-to-Rent?

What is Build-to-Rent?

Build-to-rent is pretty much what it says on the tin – homes built for renting rather than for sale. In many ways the concept isn’t new – people have been building apartments for rent since Roman times. Even in the UK, where homeownership is seen as the norm, pension funds and insurers – known in property jargon as ‘institutional investors’ – were building blocks of rental housing at the turn of the 20th century.

What makes build-to-rent different is the focus on service, with build-to-rent developments offering professional on-site management, and amenity, with shared spaces such as residents’ lounges, workzones and fitness centres typically provided inside the buildings along with the homes.

Where Did Build-to-Rent Come from?

What is Build-to-Rent?

The rise of build-to-rent has been driven by both the huge growth in renting in the UK and the variable quality of accommodation and service in the traditional private rented sector,

Up until now, the UK rental market had been dominated by amateur landlords, often with little or no residential management experience. Most rental properties in the UK have not been designed for renting either, but purchased by individual landlords to rent out (‘buy-to-let’).

The result is many tenants, particularly in high-demand areas like London, pay through the nose and get very little in return. Recognising this gap in the market for high quality, professionally managed rental homes,  large-scale, professional landlords have moved in to cater to Britain’s growing army of renters.

The Future of Build-to-Rent

According to the British Property Federation, a trade body, there are nearly 100,000 build-to-rent homes either completed, under construction or in planning across the UK. With the number of renters only predicted to go up, it is likely we will see many more build-to-rent developments popping up.

If You Build It (Well), They Will Rent It

What is Build-to-Rent?

At Essential Living, we deliver this high-quality of living. We’ve not only got rid of admin fees, but we also have rapid on-site maintenance teams to respond to any issues, as well as amazing shared spaces free for all our customers to use, with the option to reserve for private events.

With buildings in Greenwich, Bethnal Green, Islington and Maidenhead, we’re hoping to transform the way people view renting by making it as hassle-free as possible, with top-notch service, round-the-clock maintenance, transparent pricing and community events.

If you’re looking to rent in London, and would like a little more for your money, get in touch.

Living With Us - Essential Living

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