You know the property world inside out, right?
What you also know is that the rental property landscape is ever-changing, some areas can quickly become saturated and if you want to stay on top of your game, you need to make sure you stand out from the crowd.
In this post, we’re sharing five ways that you can ensure your Build-to-Rent development attracts, and continues to attract, the perfect renters.
Put your renters first
It is imperative that you understand your customer.
Over 37% of Build-to-Rent homes currently, are occupied by young professionals - mainly millennials. And what do we know about this generation? That they prefer things to be simple and hassle-free.
52% of millennial movers place ‘bills included’ as a high priority when looking for a new home. Keeping this in mind, we highly recommend that all costs to live in their new home be amalgamated into one, easy, monthly payment.
Don’t forget to factor in the area where you’ll be building your new development, too. Data shows that 40% of renters without children factor in distance to work, while 21% prefer to live close to public transport links.
Build a sense of community
Young professionals today place so much more importance on experiences than the generations before them. That’s why their home needs to be so much more than just a place to sleep.
You can do this by building a sense of community within your development; offering beautiful, purposeful communal spaces where renters will actually want to hang out in the evenings and get to know one another.
Additionally, putting on regular events or even helping the renters to put on their own events for everyone in the building, can really help to bring people together and create a fun, friendly and safe atmosphere. You could even create a Facebook or Whatsapp group for all renters, so that they can get to know one another and be kept in the know of what’s happening!
Give them space!
No, we don’t mean this in the way you’re probably thinking. We literally mean, give them space - both inside and outside of their home.
With most Build-to-Rents being in densely populated and busy cities, it was no surprise to us that 27% of renters using the Movebubble app would like their own outdoor space. We’re not saying this has to be anything extravagant, but a small terrace or balcony really does make all the difference.
Furthermore, data indicates that renters prefer their home not just to be a place to lay their head at night - they want more space within the home, too. Offering slightly larger bedrooms or living spaces, as well as more clever and discreet storage spaces, could really make your Build-to-Rent stand out in a crowd.
Offer amazing amenities and other benefits
One of the main attractions of Build-to-Rent homes, is the amenities that are usually on offer. To stand out, make sure that you offer the best!
An on-site gym, wellness classes, weekly cleaning and dedicated, secure parking spaces could all help to tip the scales in your favour.
Research has also shown that pets being allowed in the home is a massive plus for modern-day renters. Additionally, en-suite bathrooms and high-end kitchen appliances are favourable, too.
For the young professionals that will be renting your home, being tech-savvy is of utmost importance.
This is not just in terms of the amenities you offer inside (high-speed internet is an absolute must!), but also in regards to the communication you have with renters and actually getting them to take a space in your property in the first place.
Our research shows that 63% of renters prefer an in-app chat option with the agent in charge of the property, and also shows that 52% of enquiries happen outside of office hours. Movebubble offers all of this to renters, and more.
Partnering with Movebubble will place your homes right in the eyeline of your future renters - the tech-savvy, young professional population. To find out more about how you can do this, please contact us for a chat today.