Build-to-Rent is fast becoming an essential component of the rental ecosystem. With 20% of households (30% in London) privately renting, it's essential that renters have lots of options. But those options should encompass more than simply having a place to live.
Renting is now a lifestyle choice for many, and that should be reflected in the communities where they choose to call “home”. Build-to-Rent communities provide the perfect tonic for catering to the needs of modern-day renters, but you want to make sure that you’re on top of your game.
Meet renter requirements, and you'll speed up leasing your Build-to-Rent community in no time at all. We've even put together some top suggestions that will help you find renters faster and fill your fashionable co-living spaces with high-calibre renters.
It takes one to know one
Thirty-seven percent of Build-to-Rent communities are occupied by the demographic classed as “young professionals.” And it’s vital to understand the mindset of your customer (in this case, young professional renters) and provide them with the type of lifestyle they desire.
Having bills included in the rent is a high priority for many, with 52% of young professionals saying they valued all-inclusive-bills above all else. Offering plush apartments and a co-living lifestyle with bills packaged in the rent is a surefire way to attract renters to your Build-to-Rent communities.
Other aspects, such as parking facilities and bike storage, can also make lives for renters easier, as can a location close to travel links. Forty percent of renters factor closeness to work as a major factor when deciding on somewhere to live.
Welcome to the community
Big cities can feel isolating, especially if you’re new to the area. Renters want to create experiences that align with their lifestyle and are less inclined to think about personal, private spaces. Being part of a community creates a sense of belonging and togetherness not found in your typical rental apartment.
As a renter-first champion, you’re already well aware of the importance of community where Generation Rent can excel. But that genuine sense of togetherness goes much further than simply having communal spaces like lounges, dining areas, terraces and co-working hubs.
There’s a fine balance between giving people their space while encouraging them to be part of the community. But things like monthly social events, creating a Facebook page for your building and encouraging renters to mingle can go a long way to fostering the feeling of a real community.
If renters believe your offering is the number one place in town to offer an authentic community, they’ll flock there in their droves.
Modern-day renters focus on a healthy, wellness-infused lifestyle, and anyone who wants to let their Build-to-Rent homes quickly should provide easy access to fitness. Infuse your renters’ lives with holistic goodness and create an aura around wellbeing.
Many Build-to-Rent spaces do so with state-of-the-art on-site gyms, yoga lessons and the latest HIIT classes, encouraging group workout sessions that further underlines the strength of a community. Even when an on-site fitness option isn't available, renters should have no issues finding the nearest gym or method for getting their steps in.
We become more reliant on technology with each passing day. It makes everything easier, and Build-to-Rent communities that are tech-led will appeal more to renters. From superfast internet to interconnected apps, technology has a fundamental role to play in a modern renter-only options.
Being able to communicate with people working in the building or requesting maintenance via an app helps to simplify processes and make everything much easier. Modern-day renters are used to having easy access and quick solutions, and they expect the same from their living space.
One of the biggest bugbears of renting from a private landlord is the lack of communication and process of getting issues resolved. You can eliminate much of those problems with technology that keeps the whole building connected through an easy-to-use app.
Create a home; not a rental
A Build-to-Rent community is so much more than having a base. It’s a lifestyle choice and therefore needs to cater to renters’ needs. Offering multiple furnishing options and giving renters flexibility to decorate their new home as they wish will go a long way to filling up your building.
Creating a space that has its own sense of individuality is vital for renters who feel like they have a home. Spacious homes also help in cities where square footage doesn’t come so easily. Having a sense of space will help renters feel less claustrophobic if they’re living in dense cities.
Making sure spaces are light and airy with floor-to-ceiling windows where possible are small touches that enhance the living environment. Pet-friendly homes are also an essential requirement, especially as half of the UK owns some form of a furry friend.
Partner with Movebubble
With thousands of high-quality renters using the Movebubble app to find their next home, you can speed up the process of leasing your building by featuring your Build-to-Rent homes on the app. Our Movebubble One section caters to renter-designed homes and puts properties right in front of modern-day renters.