Build to Rent scheme will produce homes for the nation’s renters

As the UK sits on the edge of a rental revolution, a new report has stated that the secret to success in the rental market comes down to well designed and structured properties. As £30 billion has been earmarked by the government to build rental homes, developers are being urged to avoid traditional layout when it comes to the design and construction of properties.

The British Property Federation has noted that market success comes from creating homes that foster a sense of community. The Build to Rent scheme has been influenced by North America’s multifamily sector where a large proportion of the housing stock is owned by listed companies. Many of the emerging schemes will focus on communal spaces and user friendly living areas that encourage circulation. The report suggests that apartment buildings will feature top floor amenity decks in place of penthouse flats, allowing all residents to enjoy the additional space and views. Other complexes will be simpler and provide communal areas such as furnished lobbies and entrance areas, but according to the report the most important aspect for a successful scheme will be a high standard of design.

The report also suggests that the new properties will be designed with renters in mind. By creating an influx of homes that suit the lifestyles of the UK’s nine million renters, the scheme will improve the market and attract more professional property developers. The central focus is to deliver a high standard of housing, value and greater transparency for the ever-growing proportion of renters.

Build to Rent is emerging as a new asset class and will target developers that are committed to long term investment. The first quarter of 2015 saw approximately 29% of the London housing market dominated by rental properties, and the delivery of suitable rental homes becomes more crucial as renters are predicted to outnumber homeowners in the future. The scheme will present plenty of opportunities for developers and companies who wish to profit from property investment without any of the management responsibilities.

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