What is a Built for Renters property?
‘Build to Rent’ is an industry term used to describe properties, usually apartments, that have been built to provide private rental accommodation to tenants. We use the term Built for Renters because it describes exactly what these types of properties are, so you can easily spot them among rental listings on our site.
Unlike regular properties you might rent, these properties are not allowed to be sold on and instead remain in the ownership of one landlord, or management company.
It’s common for these properties to be newly built, much like a new-build home you may choose to buy.
Built for Renters homes can offer added security and stability for those looking for longer-term tenancies, or for those who simply wish to put some more permanents roots down.
It is also not uncommon for three-year tenancies to be agreed, making them the perfect choice for those wishing to stay in one place for a few years, or for families needing to stay local to a school.
What makes Built for Renters developments different?
Aside from the ability to secure long leases from the off-set, the key difference with Built for Renters’ properties is often the facilities they offer and the standard to which they have been built; a benefit of building brand new apartment blocks is that they are by nature modern, energy-efficient and using the latest technology and finished to a high standard. On-site maintenance and repairs are usually also taken care of by the property, so you’ll never need to call in a tradesperson. It’s no wonder renters that live in these homes often liken it to the hassle-free style of living you’d find in a hotel!
You’ll also often find that the services within a Built for Renters development go beyond simply renting a property, with many offering additional, optional services, should your budget allow, to really supercharge your rental experience.
Extras and amenities will vary by development, but often things such as cleaning and laundry services, concierge, on-site gyms, communal workspaces, event spaces and cinema rooms will be available on-site. Many developments also proactively encourage their tenants to get to know one another to create a real sense of community, so they can be a great option if you’re new to a city or looking to make new friends.
What are the benefits of living in a Built for Renters development?
Built for Renters developments and apartments have been designed with renters in mind from the ground up, making them a great alternative if you’re after something a little different, or a more managed service.
Here are some of the perks that come with Built for Renters properties:
- on-site facilities such as gyms, spas and social spaces
- social events and groups for residents to create a community
- on-site support and maintenance teams, so no need to take time off for repairs
- 24-hour concierge; never miss a delivery again
- longer tenancy options of over three years
- transparency with pricing; no surprise increases
It’s also worth mentioning that just like more traditional rental properties, and have a proper complaints procedure in place.
This means that, if anything was to go wrong with the property or you had an issue you needed help with, you know there is a fixed procedure in place and that you’ll be protected and looked after.
