Build to Rent has largely been an invisible force in the property market, with the average renter sporting a blank look when confronted with it.
Build to Rent should on the tip of every renter’s tongue. There are nearly 150,000 Build to Rent properties completed or planned across the UK – half of which are in London. Renters are increasingly demanding better quality. Professional renting should be one of Britain’s brightest industries; there’s just one snag – most of the public have no idea what it is.
New polling carried out by Deltapoll on behalf of Love to Rent, the UK’s first Build to Rent specific search platform, has revealed that 59% of the British public have not heard of the term ‘Build to Rent’. Of those who had heard of the term (38%), less than a quarter felt they knew what it meant.
Love to Rent founder and CEO, Anne-Marie Brown said: “Renters are increasingly demanding better quality and more secure tenancies. But one of the biggest barriers to achieving this is that the public simply don’t know they exist.
“As the UK’s first and only online platform specifically developed to showcase Build to Rent developments and properties, Love to Rent can be the catalyst to shake up the rental market, delivering more choice and better quality.”
The polling has also revealed that nearly four in 10 British adults expect that they or their children will be living in rented accommodation in 10 years’ time, making the need for high-quality rental properties more urgent than ever.
Living trends show an increase in people choosing to rent over traditional homeownership, including more retirees and families.
Former Assistant Director of Housing at the GLA, Jamie Ratcliff, said: “I believe that Build to Rent is a vital part of the consumer offer and housing supply challenge to help tackle London’s housing crisis. I’m delighted to see the launch of Love to Rent, the UK’s first search platform exclusively for Build to Rent homes, which will positively support that.
Interestingly, the polling also revealed that over-65s have the highest awareness and understanding of the term ‘Build to Rent’ at just over 30%, compared to 17% of 18-to-34-year olds.
Anne-Marie Brown said: “As the quality and security of rented homes improve, people of all ages are opting for the increased flexibility that comes with a Build to Rent property. But it’s crucial that we ensure that customers know that they don’t need to settle for second best when choosing a home.”
