New research reveals that the most common feature of today’s Build to Rent developments are pet friendly renting. Build to Rent is fast becoming the de facto choice for young, professional renters who want the flexibility of renting combined with the freedom and added luxury normally associated with home ownership.
So to gain a further understanding of why tenants are increasingly drawn towards Build to Rent developments, Manor Interiors analysed 103 developments via the Build to Rent portal – Love to Rent – to find the most common features found in those developments currently advertised.
47% of the Build to Rent developments actively listed on the Love to Rent portal are pet friendly – which is a direct response to the increasing frustration felt by tenants as private landlords continually fail to adapt to, and offer on any grand scale, the UK’s increasing desire to live with furry friends.
The second most common Build to Rent feature is car parking – which is provided by 40% of the developments currently listed on the market. Of the 103 developments analysed, 33% provide an onsite concierge – the third most common feature. This is likely due to the increasing demand for online shopping to be safely and reliably received by residents.
27% of the developments offer free wifi to all residents, 26% offer a resident’s lounge or other shared communal socialising space, 11% allow residents to move in without paying a deposit and 7% offer a roof terrace.
“Build to Rent is increasing in popularity so quickly because it offers a truly modern renting experience. After decades, if not centuries of an unchanged private rental industry, tenants are starting to kick back against the poor standards and inflexibility common among private landlords.
“It’s clear that the Build to Rent industry has listened to these renter frustrations and responded by ensuring that their developments cater to the evolving expectations and needs. We see this in the fact that nearly half of Build to Rent developments are pet friendly, an increasingly common renter demand that private landlords have long refused to engage with.”Farhan Malik, CEO, Manor Interiors