I read LSL Property Services’ findings on PRS tenants with
optimism – it’s clear the Build-to-Rent (BTR) sector’s ambition to put customer
satisfaction at the heart of its modus operandi is pushing at an open door so
far as tenants are concerned.
Much of the interest thus far in the sector has been on quantity
– the contribution the sector can make towards solving the
housing crisis. We estimate about a quarter of the nation’s housing
shortfall could be solved by BTR. The sector will not ever be the full solution
to our housing crisis, but it clearly has a significant role to play.
We have therefore
been delighted to see a more multi-tenure approach from Government this past
year and, whatever the result from today’s election, we hope the sense of
momentum behind delivering increased investment into all housing tenures will
be maintained.
Less emphasis has
been placed on a further important facet of the sector – its ability to help
reinvent ‘renting’. I think this will really come to the fore over the next
year as many BTR developments go live and the sector’s benefits – including its
professionalism and high-quality services and facilities – become ever more
apparent.
The offer will vary from provider to provider, but if they get
management of their developments right, the sector’s customers will notice the
difference and hopefully that will start to make a difference to what it means
to rent privately in the UK.
The BPF’s pledge on offering three-year tenancies, signed
by 20 of the biggest BTR providers, is one example. Without picking
out names, whether it is no deposits, no fees, or great community-building,
there will be many exciting offers for renters coming to the market in the next
12 months.