The future of renting: demand for all-inclusive living grows

The future of renting has changed as demand for all-inclusive living rises as the Covid-19 pandemic drives tenants needs.

Bedroom at all-inclusive living 10 George Street Build to Rent scheme - Vertus | BTR News

According to data recently released by Savills, Covid-19 has caused a dramatic shift in what prospective tenants are looking for from their rented accommodation. The report revealed requests from renters for homes with access to outside space increased by 96% in the past 12 months. Vertus’ 8 Water Street and 10 George Street Build to Rent schemes have also seen an increase in enquiries, as all-inclusive living that Build to Rent provides becomes more attractive to renters.

“All-inclusive often conjures up the thought of holidays abroad, however this concept is a growing trend in the property sector too. Instead of unlimited cocktails and an all you can eat buffet, Build to Rent properties provide happier, more secure and high-quality places to live. 

“For many years, renters have experienced poor-quality, badly managed properties that aren’t designed for modern-day living. The pandemic has shone a light on this and shown how the Build to Rent sector can provide an all-inclusive living experience, under one roof, that will benefit renter’s new lifestyle and habits.

“At Vertus our key aim is to provide residents with homes specifically designed for them, excellent service through our 24/7 concierge teams, flexible tenancies, amenity and workspaces, and a real sense of community through Club Vertus. These offerings show how Vertus and the Build to Rent model can truly support this new lifestyle in the rental sector.”

Alastair Mullens, Head of Vertus

Many renters have found the pandemic lonely and have craved community spirit. Data from the ONS found that 30.9% of adults reported their wellbeing was affected through loneliness in the first lockdown. To combat loneliness, the Vertus teams moved the tight-knit communities online, organising a range of virtual events for residents – such as online wine tastings with Canary Wharf’s Humble Grape, and resident bake-off competitions.

Additionally, online fitness classes have been available through gym and wellness providers Third Space and Antidote, and once lockdown restrictions are lifted, residents at both schemes benefit from access to gyms right on their doorsteps.

“The live music and wine nights organised in the amenity spaces before lockdown were spectacular, they helped me get to know my neighbours really well. I actually know more of my neighbours over here than I do in the US now; there’s a real community atmosphere. 

“The fact that Vertus organise online events in lockdown just shows how thoughtful and focused they are on the experience their tenants have whilst living with them.”. 

Atul Chandra, Resident, 10 George Street 

Residents working from home at Vertus’ schemes – something likely to remain popular post-pandemic – have benefitted from some of the UKs fastest broadband speeds and will continue to do so following Canary Wharf’s announcement of its partnership with Virgin. 

People have become much more connected to nature, with renters now ranking access to outdoor space 2nd in their list of most sought-after features when looking for a home. At both of Vertus’ schemes, residents have access to expansive, waterside roof terraces with seating and stunning views across Canary Wharf and the dock below. 

Residents at 8 Water Street also benefit from private landscaped gardens at the base of the building. Additionally, Vertus’ prime locations mean residents benefit from the nearby open spaces of Canary Wharf – such as Habour Quay gardens and its waterside boardwalk, Jubilee Park and the roof garden at Crossrail Place. Mudchute Park and Greenwich Park are also just a short journey away on public transport or by foot. 

In a recent independent survey carried out by Canary Wharf Group, around 51% of people said that living in a building with onsite amenity spaces would be appealing to them – further suggesting a shift to all-inclusive living. Both of Vertus’ schemes feature Club Vertus amenity spaces, which include lounges furnished by interiors specialists Angel O’Donnell and Accouter Group of Companies that feature wine and coffee dispensers, private dining spaces, communal workspaces, a screening room and hotel-style guest suites.