The largest build-to-rent landlords in the UK enjoyed a record year for lettings in 2021, inking deals for more than 8,000 move-ins.

New scheme openings across the country saw Get Living, Grainger, Greystar, Quintain Living and Uncle boost customer acquisitions, as tenants commit to city living post-pandemic.

Together, the five owner-operators manage more than 20,000 flats, out of some 70,785 homes in the sector at the end of 2021.

In 2021, Greystar let the most flats, with 1,852 new leases signed across the 2,867-home portfolio of 10 schemes. This is a 310% increase compared with 2019 levels. The operator said momentum picked up in the second half of the year, following the easing of Covid restrictions in June. On a like-for-like basis, the second half of the year saw a 50% uplift in new leases against the first six months.

Launches in Croydon, Walthamstow and Liverpool saw 1,185 new homes brought to market. Across its portfolio, Greystar completed four lease-ups at more than 90% occupied during the year. Honing in on stabilised assets, Greystar said occupancy rose by 5.4% in a year.

“It is a significant vote of confidence in the sector’s approach,” said Bella Peacock, managing director for investment management and operations at Greystar. “BTR providers in no way hold themselves out to be the rental housing solution – different people look for a different experience. We are, however, content to see that we are providing a product that meets the needs of our audience and is therefore in ever-growing demand.”

With a concentration of schemes still in the first year of lease-up, Greystar has focused on offering new leases typically of 10 to 12 months, with an average lease of 15 months by the end of the year.

Quintain Living, on the other hand, sought to entice new customers with discounts on two- and three-year leases, resulting in an average length of 23.4 months. The Lone Star-owned developer reported 1,700 new leases in 2021, a rise of 166% against 2019 levels, as it welcomed 3,400 new tenants.

Stabilised assets at Wembley Park saw rental growth of 6.5% in 2021, compared with overall growth of 2.6% for the fully operational portfolio. This compares with Greystar’s reported rental growth of 4.3% over the year.

Danielle Bayless, chief operating officer at Quintain Living, said: “The last couple of years have no doubt been a challenge for the whole industry, which is why Quintain Living’s performance comes as such a testament to our team and our approach.

“The build-to-rent sector is still coming of age in the UK, and we have drawn learnings from the more mature US market to ensure that, as we grow, best practices are enshrined in the way we work.”

Home-grown BTR behemoth Get Living was third in the ranking, securing 1,687 new leases at East Village in London and New Maker Yards in Manchester. Get Living’s leasing activity rose 54% against 2019, as the operator successful leased almost half of its 3,918-home portfolio in 2021.

During the year, Get Living launched 1,071 homes at the two sites, resulting in 88% occupancy across the portfolio, and 98% for its stabilised assets. The company reported an average lease length of 21 months and a 172% uplift in enquiries in 2021 compared with 2019.

After letting some 1,500 flats in 2021, Uncle said demand still outstrips supply. During 2021, its occupancy rose from 86.6% to 98.6%. Uncle currently has a waiting list of 1,000 people, despite average lease costs rising by 10%.

Uncle founder Ryan Prince said: “Coming out of these pandemic restrictions, people have realised just how important where you live is. As people return to cities for their jobs and studies, it’s clear they are looking for a better rental experience.

“A house isn’t just a place to sleep anymore – it’s your office, your social space, your exercise space and more, and people will be looking for a home that reflects this.”

FTSE 250 landlord Grainger boasts the largest portfolio of all at just under 7,000 operational BTR homes. During the year to 30 September, the company also reported the highest level of leasing in its 110-year history, signing 1,304 lets across four schemes in Southampton, Leeds and London.

Grainger also set leasing records at The Headline in Leeds, fully let in just three months, and Gatehouse Apartments in Southampton, which took three and a half months. Strong lease-up propelled occupancy to 94% in September, reaching 95% by the end of the calendar year.

Grainger said it had an average lease length of 28 months. The company prioritised new letting and tenant retention over rental growth, as a result reporting muted like-for-like rental growth of 0.3% on its BTR assets, and 1.6% excluding discounts and incentives.