Build To Rent Developments

So what is Build to Rent?

Build to Rent is new purpose built apartment blocks that have been built simply for those wishing to rent. The developments are managed by a single landlord and the buildings typically have more than 50 homes inside. Built to Rent tenants do not have to face short term leases and unscrupulous landlords and although many people think that BTR is a relatively new concept it has actually been around for the past decade. Build to Rent was introduced in 2012, the year of the London Olympic Games, as part of Stratford’s East Village, the accommodation set aside for competing athletes was turned into private rentals when the Games ended. Since then many other Build to Rent developments have been built, many backed by the Government as part of their Home Building Fund. Typically Build to Rent developments are high spec high-rise buildings, emerging firstly in London but have since spread to all of the big cities across the UK.

Why is Build to Rent Different?

As Build to Rent is naturally aimed at renters rather than home owners, developers tend to develop their sites with the lifestyle of their BTR tenants in mind. All of the developments are built to the highest standard but some of them go a lot further in terms of what they offer. The developers want to build a sense of community within the development so the emphasis is on communal facilities where people can socialise and simply hang out together. The developments house gyms, lounges, games rooms and dining areas, often resembling hotels rather than apartment buildings. Some developments even have a concierge on site.

Why is Build to Rent Becoming So Popular?

This is largely due to younger generations simply not accepting substandard accommodation, there are now expectations that rental accommodation needs to be of a high standard. The high standards and quality of a Build to Rent building appeal very much to graduates, professionals, couples, and even small families seeking quality, amenities, and location. Build to Rent buildings are all about creating a community and after the pandemic of 2020 and 2021 the appeal for this type of living has increased tenfold.

What are the benefits of Build to Rent?

Build to Rent tenants have the ability to rent over a longer term, such as over three years. Those who are not in a BTR development often face short term leases, as much as one in six private renters face this dilemma. BTR tenants will not face any unfair increase in their rent over the period of their tenancy. The rent and any future increase are clear to the tenant from the outset.

Build to Rent developments are all newly built developments so the tenants will not have to face contacting landlords asking for essential repairs to be carried out. BTR developments have on-site management who will carry out all aspects of maintenance work for all tenants, for those that rent privately more than a third say that they struggle to get repair work completed in their property.

Built to Rent also offers tenants hassle-free inclusive bills, therefore the tenant knows that each month they will have a fixed payment with no other hidden charges. There are no upfront fees for things such as references and inventories it is all included, offering peace of mind to tenants.

Pets are family. Many of the new-build BTR properties are now pet-friendly, which has huge appeal to tenants. Google searches for "pet-friendly apartments" in the UK have soared in recent years, and research indicates that the highest-rated BTR developments are pet-friendly landlords.

BTR Investment Opportunities

Build to Rent is fast becoming an ever growing sector and Kosy Co Living will be within the heart of it. We launched our portfolio in early 2022, unveiling a £1billion development pipeline. Our portfolio is growing rapidly and we are now welcoming new funding partners for our BTR developments across the UK. Our projects are currently in Bath, Birmingham, Brighton, Bristol, Cardiff, Cambridge, Guildford, Leeds, London, Oxford, Reading and Surrey.

Currently researching and proposal in the following areas;

London, Bournemouth, Belfast, Edinburgh, Glasgow, Liverpool, Manchester. Durham, Dublin, Exeter. Leeds, Newcastle, Nottingham, York, Oxford, Sheffield, Southampton.

As our pipeline grows we are looking to forward fund our larger schemes within the build to rent sector. We have commercial property investments build to rent opportunities for forward funding, equity partners, joint ventures, unconditional funding partners and planning uplift partners. We have opportunities for joint ventures with equity partners as we obtain planning permission with a view to sell or re-finance at PC. We are also sometimes presented with great opportunities for developers where the land owner needs an immediate sale and we are looking to partner with investors who would fund this type of project.