NEXT year is set to see Build to Rent developments really kick off in the UK, as the American inspired concept targets the lucrative British market following success in Germany and Holland.
Industry experts suggest that the move could herald a transformation of the British rental sector into a more service-based industry, which will improve living standards and offer greater transparency.
Nine million people currently rent homes in the UK, and the vast majority do so through the traditional paradigm of privately held rental properties. Build to Rent, on the other hand, would see large purpose-built developments managed by specialist companies and rented out to private tenants.
A key selling point for these companies will be the poor maintenance standards typically offered by individual landlords, with rights and responsibilities often shrouded in mystery and the source of much discontent.
Build to Rent properties would include a clear mandate of responsibilities and services offered which should, experts suggest, be of major value to tenants.