The essence of community in a Build to Rent development cannot be downplayed. It is a major contributor to the success of any BTR scheme, both long and short term. One of Build to Rent’s fundamental philosophies is streamlining activities to be tenant oriented. Which, makes it a necessity for developers to create a sense of community in their schemes. It’s an essential part of the living experience for tenants.
Humans are primarily social creatures & tenants are likely to stay longer in housing schemes that foster a communal spirit. This is mutually beneficial for both the developers and tenants. Because, creating a community for the tenants can lead to higher retention rates of the Build to Rent units. Which, positively influences the financial performance of a BTR development.
To set the development up for success, creating a community-centric scheme should be a priority for any developer or investor. As straightforward as it may seem, it is no easy feat to create a sense of community within a BTR. Each demographic requires its unique provision.
In this post, we’ll look at some of the biggest names in BTR & how they’ve successfully fostered a sense of community within their developments.
Moda Living
One of UK’s leading investors and developers in the Build to Rent sector. Moda Living prides itself as an operator of high-quality neighbourhoods, by providing the best places to live, play and work. Community feeling and inclusiveness is big a part of their philosophy. It’s best captured in their own words:
“It’s your neighbourhood. Be a part of a community of like-minded people – get involved as little or as much as you want. Go the distance with your fellow runners, join the peloton, or nurture a novel. There’s a club for everyone – because life feels better when you know you belong.”
Moda Living
Moda Living has made interaction among residents convenient with the MyModa. It keeps residents updated on all important notices and events happening in their building. The app also offers residents the means to book amenities ahead, or to create clubs for residents aligned interest.
Organising community events is another way to promote a sense of community among residents within a Build to Rent. Moda Living’s Angel Gardens at the heart of Manchester city features some tenants-oriented events. Especially with the advent of COVID-19 and lockdown measures, there is an increasing need for safe social interactions. Events such as the Summer Screening by Moda and Samsung, which features a cinema screening for residents. Virtual events like the Best Online Food and Drink Content and The Neom Feel Good Virtual Live by Moda.
Essential Living
With several developments in the UK, Essential Living is a BTR owner that prioritises the integration of community. Essential Living is of the philosophy that their developments are more than just bricks and mortar; they’re vibrant communities of people from all walks of life. Essential Living aims to nurture meaningful relationships and help connect groups of people during their stay with Essential Living developments.
To show how community-centric their BTR developments are, Essential Living has set out a new tradition. The penthouse floors at each developments, include a show-stopping shared communal area for all residents to enjoy together.
They also ensure residents have the opportunity to interact and connect with their neighbours, with Facebook groups for each development. Periodic social events are organised by the onsite teams to foster a sense of community.
A few of the residents testify to the effects of the community, through the popular home review platform HomeViews:
“Dressage Court is a great place to live. I appreciate the quality of the building management team and how I never have to worry about anything being taken care of – true professionals! Maintenance is a breeze, the amenities (furnished rooftop with outdoor kitchen, gym, community lounge, full-time door staff) are amazing, and the community is great! I also love that the building is dog-friendly”
Nick (private tenant) September 2018 – HomeViews
“Excellent modern minimalist build with a warm design. The management and residents’ team are beyond helpful, ready to help with a smile at any time of the day. Great community, mainly composed of young people. The rooftop and communal spaces make great gather-together areas. The management organises monthly great and original events – you would have the impression to live and take advantage of the space fully. To me, one of the best modern living models in town”
Corrado Macchiarelli (Private Tenant) September 2018 – HomeViews
Quintain Living
Formerly known as Tipi. Quintain Living is one of the best BTRdevelopers in the UK. They won the 2018 Inside Housing Top 60 Developments Award “Build to Rent development of the year.”
Quintain is known to provide residents with a variety of events (both physical and virtual) regularly. Helping to boost the sense of community among residents. The management provides the resident with a rooftop yoga club, self-improvement club, paint club and more. The highlight of these events is the Supperclub. Which, features the residents having exclusive dining with popular reality cooking TV chefs.
Here are some reviews on the community building from HomeViews:
“The design is premium – or at least a good attempt at a premium. However, facilities like bin shutter are always faulty. Interior design not well laid out. Rooms are slightly above standard in size. Furnishing basic and fit for purpose. Lots of common areas within the building. Rooftop cinema on the terrace. Rooftop BBQ stand as well. Overall a nice apartment. Tipi plans lots of community events for residents.”
Onaechann (Private Tenant) July 2020 – HomeViews
“It’s good to have a community feel and good amenities. The design is great and management are always friendly and responsive.”
Simon (Private Tenant) July 2020 – HomeViews
Conclusion
We predict that a gap will appear between the BTR companies that achieve a community and those that do not. This will make a major difference between Build to Rent companies to prospective tenants in their decision-making.
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Great article.
It’s called coliving.