# One size does not fit all – the modern face of UK build to rent Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-04-11 Category: LIFESTYLE Category URL: https://financedigest.com/category/lifestyle Meta Title: Changing Face of Build to Rent - Design and Service Meta Description: Learn how Atlas Residential's Stephanie Smith is reshaping the rental market to cater to a diverse range of renters, including older demographics. URL: https://financedigest.com/one-size-does-not-fit-all-the-modern-face-of-uk-build-to-renthtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd110418-6-1736842853672-compressed.jpg) Build to Rent, while still in it’s infancy, is now learning to walk. The realisation that the concept of a ‘typical’ renter is becoming a thing of the past. The modern residential market must serve a range of customer’s needs if it is to keep up with demand. [**Atlas Residential’s**](https://r20.rs6.net/tn.jsp?f=001o4MuTSu182lplJXaN0joSS_yJggXf_atYiuTf8O01NCNczh_9_r-QEurUAoWGE6UahUUAzvrtKn6Y-Oncqe0fqCMRAfW30UBnaGW7G97YSmEFf0ArR8vWYtk_S8B0uUqZgNp6aQ4SfUcYJe8GqUFeSB9vvaO2OaY_i2jyO8hr8E_3UL8FxQne3g1HMmrWShX&c=RxgxBJJzyLp_G8GOpPtlZWmCWwf1UBOTEr4iQeNIfkBo6YTl4RO28w==&ch=-VOwZMVKK97kQg69Rs42x-BDczAyaAg_XhZNtKW4-wFl_G2F4-nwkw==) **Operations Director, Stephanie Smith,** considers the changing shape of the market and what the implications are for the design and service delivery of build to rent developments. ![Stephanie Smith](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/stephanie-smith-1736842853638-compressed.jpg) Stephanie Smith When we talk about rented accommodation, too often the image that springs to mind is of young, single tenants sharing a flat, living close to work as they try to start [climbing the career ladder](https://www.financedigest.com/the-rfid-in-healthcare-market-to-climb-up-the-ladder-based-on-digitization.html "The Rfid In Healthcare Market to climb up the ladder based on digitization"). However, that stereotype which the UK subscribed to for the past 7+ years as Build to Rent came to fruition is becoming increasingly outdated, meaning that the way we design and deliver rental developments needs to change. As I [reflect on my tenure in the US multifamily market](https://www.financedigest.com/polyols-market-reflect-impressive-growth-rate-to-during-2027.html "Polyols Market Reflect Impressive Growth Rate to During 2027"), I am a firm believer that this is a community for everyone, from a new graduate, indeed, to a retiree who has decided they don’t want the hassle of a mortgage or home repairs and prefer a social community setting. While others chat about sharers and millennials, we need to recognise the value of catering to those renters who look for long term places they can [call home](https://www.financedigest.com/british-home-secretary-calls-on-other-nations-to-help-take-in-afghan-refugees.html "British Home Secretary calls on other nations to help take in Afghan refugees"). The latest English Housing Survey, for example, confirmed that more than 1.5 million people aged 65 and above now [live in rented](https://www.financedigest.com/redefining-renting-tipi-launches-the-best-way-to-live-in-london.html "REDEFINING RENTING: TIPI LAUNCHES ‘THE BEST WAY TO LIVE IN LONDON’") accommodation. The [jump in those renting privately over the past](https://www.financedigest.com/online-brokerage-robinhood-jumps-29-to-surge-past-offer-price.html "Online brokerage Robinhood jumps 29% to surge past offer price") decade is significant. In 2007, 254,000 older people rented privately. That figure has now risen to 414,000 and some estimates suggest that a full third of those aged 60+ could be renting privately by 2040. That gives us little over a decade to dramatically alter the way we perceive and [design build to rent services](https://www.financedigest.com/nanotechnology-to-spell-the-growth-quotient-gq-of-drug-designing-services-market.html "Nanotechnology to spell the growth quotient (GQ) of Drug Designing Services Market") in the UK. The Centre for Ageing Better reports that private landlords have the highest proportion of poor quality housing of any tenure type, along with [higher levels](https://www.financedigest.com/u-s-dollar-drifts-higher-yen-heads-toward-level-that-prompted-intervention.html "U.S. dollar drifts higher; yen heads toward level that prompted intervention") of disrepair. Poor quality accommodation is unsuitable for any resident, but particularly so for [potentially vulnerable](https://www.financedigest.com/spotting-the-signs-of-potential-financial-vulnerability-through-policy-history-data.html "Spotting the signs of potential financial vulnerability through policy history data") groups such as older renters. The difference that the [build to rent](https://www.financedigest.com/could-the-surging-build-to-rent-market-create-emerging-opportunities-for-investors.html "Could the surging build-to-rent market create emerging opportunities for investors?") sector can make is therefore significant. Tenancy length plays a role here too. Short-term tenancies are hardly likely to encourage older residents to agree home adaptations with their landlords, [yet often a few simple adaptations such as handrails or ramps can enable older people to remain independent in their homes for many years](https://www.financedigest.com/four-years-of-open-banking-2022-may-be-the-best-year-yet.html "Four years of Open Banking: 2022 may be the best year yet "). The Centre for Ageing Better [reports that 16% of those aged 65 struggle with at least one daily living activity](https://www.financedigest.com/active-pharmaceutical-ingredient-market-report.html "Active Pharmaceutical Ingredient Market Report") (such as washing or dressing), compared with around half of those aged 85. If a third of people over 60 could be renting by 2040, we need to ensure that their [properties and their tenancy types enable them to maintain independence and dignity within their own homes](https://www.financedigest.com/simplifying-home-insurance-through-property-characteristics-data.html "Simplifying home insurance through property characteristics data"). However, it is vital to dispel the stereotype that mature renting does not always mean a senior community with healthcare services. Even within the mature renter group, we need to consider the different needs. Many simply want a safe community where they can engage with neighbours, have excellent [service when repairs are needed](https://www.financedigest.com/how-to-choose-the-right-service-for-your-international-money-transfer-needs.html "How to choose the right service for your international money transfer needs"), and a quiet place to hang their hats. This type of living also [means they can travel without the strings that home](https://www.financedigest.com/working-from-home-what-does-it-mean-for-your-taxes.html "Working from home: what does it mean for your taxes?") ownership brings. Mature residents are just one example. However, build to rent also needs to serve increasing numbers of families, renters with pets, and those residents who [work from home](https://www.financedigest.com/how-to-hybrid-trusting-employees-to-work-from-home.html "How to hybrid: Trusting employees to work from home ") and so forth. The Office for National [Statistics reports](https://www.financedigest.com/pharmaceutical-contract-sales-outsourcing-market-statistics-demand-and-forecasts-to-2031-examined-in-new-research-report.html "Pharmaceutical Contract Sales Outsourcing Market Statistics, Demand and Forecasts to 2031 Examined in New Research Report") that 15% of all people in work in the UK are now freelancing, undertaking contract work or self-employed. [Online jobs platform](https://www.financedigest.com/brand-strategy-tactics-for-an-online-learning-platform.html "Brand Strategy Tactics for an Online Learning Platform") PeoplePerHour has even gone so far as to suggest that 50% of the UK workforce will be freelancing by 2020. Even if that shift doesn’t occur quite so fast, it’s certainly the direction in which we are headed. Ultra-fast broadband and WiFi, then, are core [services in new build to rent homes](https://www.financedigest.com/the-home-care-services-market-to-get-pushed-based-on-digitization.html "The Home Care Services Market to get pushed based on digitization"), not just for those watching Netflix but for residents who make a living from home. ![FAMILY](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/family-1736842853658-compressed.jpg) The nature of shared facilities should be considered as part of this shift to a new customer base for rental accommodation. Quiet, professional workspaces where tenants can hot desk with their laptops, or bring a [business contact in for a meeting](https://www.financedigest.com/how-can-businesses-digitalise-supply-chains-to-meet-demand.html "How can businesses digitalise supply chains to meet demand?") will suit those who freelance or work from home. On-site cafés are ideal for older residents looking to socialise. Crèche services, “Parents Day Out” events, and proximity playgrounds and good [schools meet the needs of those with children](https://www.financedigest.com/prince-william-and-kates-children-to-start-new-school-near-windsor.html "Prince William and Kate’s children to start new school near Windsor"). Modern developments need to think all of this through and incorporate flexibility and variety into their design and service [delivery](https://www.financedigest.com/online-food-delivery-services-market-will-reach-a-valuation-of-over-us-4212-6-mn-towards-2029-end-fmi.html "Online Food Delivery Services Market will Reach a Valuation of over US$ 4,212.6 Mn towards 2029-end: FMI") if the UK is to truly service the needs of all renters. However, the disappointing truth is that many developers or those who are making decisions have not rented in years, so forget to look at the potential through their [customers’ eyes](https://www.financedigest.com/sports-and-athletic-insole-market-players-eye-custom-and-3-d-printed-products-for-performance-optimization-says-future-market-insights.html "Sports and Athletic Insole Market Players Eye Custom and 3-D Printed Products for Performance Optimization, Says Future Market Insights"). We need to shift our definition of a typical build to rent home. One and two bedroom apartments are great for many renters, but there’s also a sorely overlooked need for low-rise, quality family apartments and homes that can be rented long-term. One only [needs to look at what works elsewhere in order](https://www.financedigest.com/money-orders-vs-checks-what-you-need-to-know-as-a-consumer.html "Money Orders vs Checks: What You Need to Know as a Consumer") to deliver the perfect blend of accommodation. In most countries, throughout North America and Europe, for example, you would be hard [pressed to find a market](https://www.financedigest.com/briquetting-press-market-expectations-growth-trends-highlighted-until-2028.html "Briquetting Press Market Expectations & Growth Trends Highlighted Until 2028") where families were not recognised and considered an integral part of the community. The UK [market is tragically inundated with one and two bedroom units](https://www.financedigest.com/vapour-recovery-units-market-is-expected-to-register-a-decent-cagr-of-more-than-5-during-the-forecast-period-of-2019-2029.html "Vapour Recovery Units Market is expected to register a decent CAGR of more than 5% during the forecast period of 2019-2029"), however, the few three bedrooms aren’t considered on a reasonable level, both in proportional availability nor in affordability. Three and four bedroom rents are, essentially, [priced by taking an average income and multiplying it by 3 or 4 incomes- a bit audacious really since I am not aware of many children making £27K a year](https://www.financedigest.com/with-uk-food-price-inflation-at-46-year-high-lawmakers-launch-probe.html "With UK food price inflation at 46-year high, lawmakers launch probe"). By pricing in this manner, the market is ostracising a demographic which has been proven to be longer term, more reliable, and often the most loyal type of customer. Once a family is located in a good home in a safe, happy neighbourhood and their children are settled in school, the likelihood of [moving diminishes far more than a nomad-like millennial who will go to the next](https://www.financedigest.com/the-next-upcoming-years-to-see-the-dental-biomaterial-market-move-exponentially-upwards.html "The Next Upcoming Years To See The Dental Biomaterial Market Move Exponentially Upwards") shiny community when it opens! ![Atlas Residential and Rockspring Property Investment Managers LLP's complete and operational site,   Bow Square, Southampton ](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/atlas-1736842853723-compressed.jpg) Atlas Residential and Rockspring Property Investment Managers LLP’s complete and operational site, Bow Square, Southampton By putting ourselves in our customers’ shoes, and taking a fresh, contemporary approach, build to rent owners and operators such as Atlas Residential can meet the needs of all those who rent in the UK. This is imperative if we are to prove that renting is not a stigma, but a beneficial and flexible [way of life](https://www.financedigest.com/valuable-ways-to-get-your-children-ready-for-college-life.html "Valuable Ways to Get Your Children Ready for College Life"). Whether [people rent by choice or as a result](https://www.financedigest.com/uk-pm-sunak-election-results-show-people-want-us-to-deliver-for-them.html "UK PM Sunak: Election results show people want us to deliver for them") of an inability to afford to purchase property, they deserve to have high quality accommodation that meets their individual needs. The UK is already behind the curve in terms of adapting its [service design in this respect – the rental market](https://www.financedigest.com/car-rental-service-market-is-forecasted-to-grow-at-a-7-2-cagr-by-2031-comprehensive-research-report-by-fmi.html "Car Rental Service Market is forecasted to grow at a 7.2% CAGR By 2031- Comprehensive Research Report by FMI") has already changed significantly and we have much to do to catch up and provide the homes that the country needs. Only through substantial effort will we ensure that all renters’ needs are met. Thankfully, the build to rent sector is [well positioned](https://www.financedigest.com/fed-keen-to-be-well-positioned-to-act-on-inflation-other-risks-minutes-show.html "Fed keen to be ‘well positioned’ to act on inflation, other risks, minutes show") to do this – we just need to continue striving to innovate and to design our services around future needs, as well as current ones. For further information please visit  [www.atlasresidentialuk.com](https://r20.rs6.net/tn.jsp?f=001o4MuTSu182lplJXaN0joSS_yJggXf_atYiuTf8O01NCNczh_9_r-QIek0XLitZQj04eOPCo8exY7IJSoY-PLWNUmgpg_pngtg0cpqz8bOfFsnV_CdpehbSOehn1bUGfDRu9uwPS0Ry3c45pC5Zgz-VpsiOZdds7TklOAzo8KFZnEGopnz8rVXA==&c=RxgxBJJzyLp_G8GOpPtlZWmCWwf1UBOTEr4iQeNIfkBo6YTl4RO28w==&ch=-VOwZMVKK97kQg69Rs42x-BDczAyaAg_XhZNtKW4-wFl_G2F4-nwkw==) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---