Just like the mature multi-family sector in the US, the nascent Build-to-Rent (BTR) sector in the UK will take inspiration (and staff) from the best of the hospitality and leisure sectors, in particular hotels, to enhance and prioritise the customer experience and build holistic, customer focused, brands.
Whilst the site in the right location with excellent infrastructure is vital, it will be the less tangible benefits, which will build loyalty to BTR as an asset class and I expect be a key factor in differentiating the successful investors/operators from the less so. Stimulating and dynamically evolving schemes with the customer at their heart will drive long term investment returns as individuals and households put down roots and networks rather than up sticks every 12 months.
The conversation in the housing debate can then move away from the ‘be all and end all’ of home ownership as the only solution to the housing crisis. Greystar, Moda Living, and Grainger (to name a few) are at the heart of leading this positive change which is much wider than simple bricks and mortar – it is no less than societal, generational change which will have huge knock on benefits to wider society and is here to stay (and evolve!).
it will be the less tangible benefits which will build loyalty to BTR as an asset class