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What makes a 'build to rent' property different to a normal rental property?
The main differences are that the building is occupied by renters! There is no hierarchy, every resident is equal. ‘Build To Rent’ properties are owned by one landlord (usually a company) and are managed professionally, which means no more waiting for your landlord to get back from holiday to fix your leak. Many schemes offer residents flexibility in the length of the tenancy, from 6 months to over 3 years, and developments are generally based in a central location, close to transport links.
So are ‘build to rent’ developments all the same?
In a word, no. There are many different schemes that offer residents many different services. Some BTR developments will only offer concierge services and others may offer residents lounges, cinema rooms, roof terraces, and more.
Am I going to pay more rent if I am a tenant in a ‘build to rent’ flat over a traditional one?
This would depend on the type of amenities the BTR flat offers. As you can imagine, there will be a premium for the upkeep of communal areas, swimming pools or additional on-site staff so you will need to consider whether these additional extras work with your ideal monthly budget. Give us a call on 020 8315 6917 and we will be happy to work this out with you.