BTR developments are bringing new life to our cities, but who's making this change work for the tenants?
Building apartments that people ultimately rent is nothing new, but, in steps the BTR sector and wait a minute, this is not just new, this is actually innovative.
So from the top – build-to-rent (BTR) developments are purpose-built residential communities that offer a new way of living in our cities, think apartment building meets hotel meets co-working space. They offer a range of amenities and services that cater to the needs of renters, providing a more flexible and convenient living experience with a real sense of community and culture.
Common features might include on-site management, fitness centres, work spaces, shared outdoor terraces and communal spaces all aimed at enhancing the quality of life for residents. The most successful BTR developments value brand and focus on creating a sense of community, with a view to building a place (not space) for long term social interaction among tenants. The BTR model in the UK is attractive to a range of renters in the UK across young professionals, families, and those seeking a hassle-free, modern living environment as such the need to define brand for these developments is crucial – is this a family friendly multi generational development, is this dinky’s and international students or is this an eclectic melting pot of all of the above.
We believe creating a strong brand is crucial for a build-to-rent (BTR) development to not only differentiate in a competitive rental market, but in creating an emotional connection with potential residents. And as it happens we aren’t the only ones – in steps go to market strategy specialists that understand this nuanced approach aswell as understanding the market as a whole, most recently and arguably most notably Native Communities, who after some gentle courting finally let us loose on a project 2 years ago and we haven’t looked back since.
Native specialise in operating small to large-scale living, mixed use and commercial developments and are making huge strides in the BTR space, creating thriving and sustainable communities for the tenants that occupy the buildings and of course their clients (developer.) This approach by Native aligns perfectly with our own ethos around not only designing with empathy but also our long standing belief in building communities with integrity.
We’ve worked with Persona for several years, and their deep understanding of our market and needs is exceptional. Their creativity and quality set us apart in a competitive landscape.
Richard Higham
Native Communities – Head of Digital.
So why is build to rent thriving in our cities – at the moment of writing this we are appointed on 3 projects in 3 different cities, so something is definitely working.
We believe that a confluence of contemporary social narratives is causing people in their mid-twenties and upwards to realign their proprieties. They value the quality of social interaction over the cost of material goods, the slow life movement is seeping into city life where communal cooking is now possible in shared kitchens and the work from home shift is still going strong so why not live in a building that has free to use tenant only co-working spaces.
Maximising the potential of this uptrend ultimately comes down to doing it properly, and to us that means one thing – making your developments Brand and Digital presence unique and flawless. A contemporary brand with a strategic approach and a considered tone of voice can speak specifically to a developments target audience and convey key messaging in a way that truly resonates. A strong brand can help not only communicate the schemes unique amenities but curate a community of like minded tenants. A strong recognisable and appealing brand can attract high-quality tenants, create loyalty, and improve retention rates by making residents feel part of something exclusive and desirable.
Strategically a strong brand and website supports marketing and leasing conversion, increasing visibility and demand for the property in a crowded market. Ultimately, a strong brand enhances the overall reputation of the development and fosters a sense of pride and identity for the residents. Brand done well is an investment for years to come where reputation and memorability is key to save high exposure to costs with expensive advertising, you can be more strategic with advertising and as such increase efficiency and be far more cost effective.