Thu 19 Sep 2019
Rachel North, Operations Manager
Build to Rent (BTR)
BTR developments are designed for rental rather than sales typically involving one agent to let and manage. The continued expansion of both the wider sector and individual schemes reflects a growing belief in BTR, attracting considerable investors and government support and funding. Schemes submitted through planning and entering construction phases continue to increase in size and BTR has the potential to increase the supply of homes and improve standards for renters. Keren Dolan and Anthony Alder in our block management team are both completing their training in BTR management with the Institute of Residential Property Management, of which we are members. More news and articles to follow over the coming months on this fast-growing sector of the industry and AB’s involvement.
Case Study 1 Brooke House
In late Spring 2018 AB marketed Brooke House, 23 luxury town centre 1, 2 and 3 apartments developed specifically for letting. High spec finishes, off street parking, electric car charging points, cycle storage plus Virgin and broadband connections made the development exceedingly popular and rented to full capacity ahead of schedule. The Landlord’s testimonial highlights AB’s ability to deliver an exceptional service from start to finish: “When considering which letting agent to appoint we decided to look for an independent, owner run business that had a long term track record of letting and managing properties in the area. We wanted absolute confidence the agent we appoint would deliver on expectations and not simply win the business by over promising. We chose AB because they are a relatively small, close knit team who could demonstrate they had a real hands on feel for the market and could offer both us and more importantly out tenants excellent service. Working with AB on a reasonable size project for Tunbridge Wells has been an absolute pleasure. They have delivered first class support throughout the entire process and managed to let all our properties way ahead of expectation”.
It is typical with BTR, that only one agent is involved in marketing, letting, and managing the individual apartments, building and communal areas. This delivers a streamlined service for Landlord and Tenant alike. AB’s Block & Estate Management team have tailored their service to suit the Landlords present requirements which have worked incredibly well – as the Landlord says “It is a slightly unconventional arrangement as AB do not have a traditional Block Management role as we undertake some things ourselves. AB’s flexible approach to management has been beneficial”.
AB are well positioned to advise and assist on a range of projects including purchase, developments for resale or BTR, resale, buy to let, lettings, property management and maintenance, block and estate management.