Build to Rent (BTR) is an initiative designed to solve the common issues often associated with ordinary rental properties. To overcome these challenges, BTR developments are designed efficiently, whilst bringing major benefits to the tenants. As a result, these developments are far more tenant-oriented & this is the major feature that attracts prospective renters.
The differences between BTR and conventional block flats are fundamental, strategically planned and designed from inception.
What is Build to Rent Development?
Firstly, for an introductory look at Build to Rent, read this blog post. Alternatively, for an in-depth overview of the whole industry, check out the UKBTR Books here.
For the purpose of this post, essentially, BTR developments are built for renting, as opposed to selling. For that reason, BTR developers aim to maintain tenants for longer periods than is typically normal in the rental industry. BTR developers go above & beyond designing sophisticated apartments by creating potential for community growth. Below, we will examine the most noticeable design differences between BTR developments and its predecessor – conventional block flats.
Design Differences Between BTR Developments & Conventional Block Flats
Here at UK Build to Rent, we have identified 6 key design differences between BTR & traditional rented apartments. Designed with these key features, BTR developments are of an incomparable quality. We discuss these in further detail below.
Double Height Ceilings
Double-height ceilings offer a spacious and pleasing first impression upon entrance to a lobby. Furthermore, a double-height ceiling creates room for great interior design. Generally, art installations, chandeliers & waiting areas for guests, all create a great first impression for tenants & visitors. Evidently, these design features are not easily found in conventional block flats.
Concierge Services
Becoming increasingly standard in modern builds, concierges are more than just a front desk. They provide the services that make life easier for tenants. Having a concierge comes in handy, especially when there is a domestic problem with an apartment or the overall building. The team often have access to the best help. Living in a building with a concierge adds more simplicity to a tenants lifestyle. It provides ease for those minor daily stresses -all of which creates a desirable home.
Amenity Space for Tenant Usage
Many BTR properties provide social spaces for their tenants. Including, dining rooms, working from home spaces and even leisure facilities. Moreover, shared spaces benefit residents by increasing interaction with others & in turn, improve their wellbeing. Also, tenants are able to use the spaces to organise their own events & hangouts. Perfect for social tenants in small apartments with limited room to host!
Shared areas allow residents to enjoy a real sense of community. Furthermore, it gives them more opportunities to make new friends. Research shows that if a tenant has a friend within their building they are 82% more likely to renew their lease. This number jumps to 94% when they know more than one person within their building!
Location for Ease of Tenant Commute
Location is vital to the success of every development. This is why BTR developments are strategically built in well-connected transport locations. Always situated in choice areas (rather than the outskirts of a city), residents enjoy an easier commute. Limiting the reasons a tenant may wish to move. Location is always a major factor for tenants and BTR developers ensure this is a priority.
Community Facilities
When designing BTR developments, communal facilities are non-negotiable. These facilities often include; secure parking, event rooms, concierge, gym, lounges, delivery storage and refuse chutes. Just some of the key perks that can enhance a residents stay.
These facilities make tenants lives easier, whilst also appealing to prospective tenants. Communal facilities are rare to find in conventional block flats. Put simply, they are not as tenant-oriented as BTR developments. Additionally, a lack of communal facilities discourages community interaction and therefore, the likeliness for tenants to renew.
Operational Efficiency
Considering all of the facilities available, a management team is necessary to oversee building maintenance & appropriate use of amenities. Not only does this establish consistent facility quality for all tenants, but it also ensures problems are fixed efficiently. Thus, allowing for day-to-day living to run smoothly for residents. For any larger problems that arise, operations can communicate quickly to all residents, limiting any uncertainty.
Conclusion
In summary, Build to Rent developments may look similar on the outside, but they differ greatly from conventional builds within. From the services provided, to the increased community infrastructure. A Build to Rent development is an opportunity to raise the quality of living for its residents. In short, it is evident that Build to Rent is unrivalled in the facilities & services provided to its tenants.
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