These are exciting times for the build-to-rent sector as these purpose-built rental properties begin to change the face of the rental market and raise tenant expectations. A key attraction of this type of development is the sense of community it can foster; if this is important to you, where are the best neighbourhoods to locate build-to-rent premises in London?
What is build-to-rent?
In a world where renting is popular, partly due to lifestyle choice and the financial demands of buying a property these days, renters are becoming more discerning, looking for somewhere that reflects their lifestyle choice but gives them the quality of living they expect.
Build-to-rent developments are specially designed and purpose-built for renters; they are not for sale and are owned and maintained by a landlord who looks after the entire development and the services on offer. Furnished or unfurnished, ready to go with hi-speed Wi-Fi, clearly set costs and long lease options. They are designed to make renting as attractive and easy as possible – a great alternative to homeownership or more “traditional” rental arrangements.
Top 10 most popular London buy-to-rent communities
The growing popularity of build-to-rent means developments appear up and down the country, in popular locations such as Manchester, Birmingham and Bristol. But London, where it all started, remains a popular location.
With plenty of rental opportunities to choose from, a good starting point is to look at some of the most popular build-to-rent communities already established:
• Be:here Hayes: offering pet-friendly homes
• Tipi at Wembley Park: a six-building development
• Chapter Portobello: a student hotspot
• Union Wharf Greenwich: a short walk from the centre of Greenwich
• Fizzy Hayes: Convenient commuting
• Get Living Elephant Central: an excellent central location
• Greystar Charter Place Hounslow: includes an on-site gym
• Movebubble homes Kew: just 15 minutes from Kew Gardens
• The Assembly Wembley central: high-spec properties
• George Street Canary Wharf: a popular location
What do tenants look for in a BTR development?
These exciting developments, designed by architects to enhance modern-day living and styled by interior designs to reflect aspirational living standards, offer common features that make these properties popular with residents.
As always with properties, location is key. Developments are often situated to take advantage of easy access to good transport links and are in popular or up-and-coming parts of London where major investment and redevelopment are already happening and offer great surroundings in terms of open spaces and amenities.
Communal spaces are integral to what these properties offer, with areas such as games rooms, exercise spaces, roof terraces, lounge areas and even workspaces, very different from what can be expected in a traditional rental property.
Some also enjoy integrated commercial and leisure facilities, such as shops and restaurants, supporting a thriving community. 24-hour, on-site service teams and concierge services add to convenient living, a higher level of comfort and the peace of mind in knowing that problems with the property will be dealt with effectively.
The variety of locations and what these developments offer make it easy to see why communities in build-to-rent developments enjoy living where they do. With many more build-to-rent properties in construction and planned, the choices in location and styles are set to increase. This can only be great news, not only for anyone looking to live, work and play in London but also for potential investors and landlords.
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