"Community is an essential aspect of Build to Rent developments, which are designed with a focus on creating vibrant and connected places to live"
The relentless surge in housing demand, private landlords leaving the market and the subsequent spike in rental prices have all posed significant challenges to renters.
There has been numerous research and studies carried out in the hope of understanding more about what the current situation looks like. But the news for those renting in the private market does not look promising.
A survey carried out recently by the campaign group Generation Rent found that 21 per cent of tenants in England had been drawn into bidding wars and 22 per cent had to provide a CV or photo to secure a tenancy.
According to the industry body ARLA Propertymark, this may be because the number of privately rented properties is not keeping pace with rising demand. For every property to let, there are 13 renters trying to secure it.
There are several reasons why this might be, with the roots of the crises starting as far back as the Right to Buy, which allowed council tenants to buy their own homes at a discount and then the government’s inability to build enough social housing.
Whether it’s new regulations, fewer borrowing options or the cost of living crises, private landlords are seeing their profits at their lowest level since 2007, according to research from Savills estate agency. This may be why when asked by the National Residential Landlords Association (NRLA), a third of investors planned to reduce the number of properties they rent out, causing further issues for renters.
So, what is the solution?
Educating people about different options is a great place to start, which is why the third Love to Rent week has been announced, following the increasing interest in Build to Rent.
The week will be taking place 25th – 29th September with the aim to raise customer awareness about the many benefits of Build to Rent. This includes understanding that Build to Rent is managed by professional landlords, meaning that difficulties and challenges are mostly avoided.
During the Love to Rent week, people will learn more about the sector, from pet-friendly developments to how shared amenities work.
Anne-Marie Brown, Love to Rent Founder, explains: “Build to Rent is a lifestyle choice for many and offers a stylish, convenient and flexible living option with a huge number of benefits.
"Community is an essential aspect of Build to Rent developments, which are designed with a focus on creating vibrant and connected places to live.”
“The developments are designed to encourage interaction, with shared spaces both inside and out to foster a sense of belonging and provide a chance for tenants to get to know their neighbours.
“This creates a much more positive experience for customers and when this is combined with all the practical elements that Build to Rent offers, it is no surprise that interest in the sector is growing.”
