Pet-friendly rentals are trending
The study by the experts at Manor Interiors reveals pet-friendly renting as the trendiest feature of build-to-rent (BTR) developments and more.
The research reveals the most popular features of today’s BTR developments as tenants step away from traditional private renting.
Young, savvy renters value the flexibility of renting mixed with the freedom and extra comfort of owning a home. Thus they choose the BTR sector, and demand rises.
The most common BTR features
Specialists at Manor Interiors analysed the trendiest features of listed BTR development in the market to understand the reasons for this increased demand among tenants.
- Pet-friendly rentals. The traditional private renting sector often failed to offer this feature. However, pet-friendliness is the trendiest feature of BTR development in the market today. Data reveals 47% of the listed BTR developments offering the pet-friendly feature for the tenants. Developers address the frustration in the market caused by private landlords failing to meet the needs of the UK tenants wanting to keep their pets.
- Parking. Spots for car parking come a close second most common feature of current BTR developments. The share of listed offers with this feature stands at 40%.
- Concierge services. Around 33% of BTR developments in the market offer on-site concierge. One of the reasons for this might be the growing demand from tenants who want their online shopping received safely and accurately.
- Wifi, shared space and gym. These features are also common in today’s BTR developments. Their share stands at 27%, 26% and 20% accordingly.
Farhan Malik of Manor Interiors highlights the quickly growing popularity of BTR because of its «truly modern renting experience». After many years of static private renting, tenants start to step away from the «poor standards and inflexibility» of traditional private rentals.
Malik points out the response from the BTR sector in addressing this frustration among tenants by ensuring that developments meet the evolving needs. The case in point is that «nearly half» of BTR developments are pet-friendly – the feature that has long been neglected by private landlords.