The pros and cons of renting versus buying have long been debated. But what about when you compare traditional renting to renting a house via the Build to Rent sector.
For both sectors, renting offers far more flexibility than buying ever could. Having the ability to move where and when you want with ease compared to owning a house is a huge plus point. Now, more than ever, being able to move at relatively short notice for work is important for whatever career you may be in. However, if you are renting a home on the open market, you may have signed a long lease, which you can’t get out of. Build to Rent offers huge flexibility, with rental contracts as short as 12 weeks and also the opportunity to move to another home in a different location with the same company.
When most people think about Build to Rent developments with all the lifestyle features, they don’t really think about traditional family homes in the suburbs. However, the Build to Rent market is growing at a fast pace and now there are plenty of houses to choose from for families or individuals who prefer the quiet of the suburbs over the fast paced life of the cities.
Who is renting homes?
Data from the National Landlords Association shows that for the first time, landlords renting to families with children in the Build to Rent market have become more common than those renting to young couples. One of the reasons why families are drawn to the Build to Rent sector are the clear benefits of a professional landlord and the security that goes with it.
Long term rentals
With more families renting in the Build to Rent sector, developers are looking at exactly what is attracting them. Renting is seen as a long term prospect, with people wanting to put down roots and establish themselves in the community. One of the biggest advantages of Build to Rent is it will allow you to set the time that you want to stay with no costly deposits needed to be paid upfront. If you love where you are renting, you have the security of knowing that you can choose how long you stay for.
Space to grow
Finding your ideal rental house, will allow you to grow as your lifestyle changes. Maybe you are planning to have children or pets or it might be that you want space for a dedicated office or studio space. Renting a house gives you more possibilities than an apartment.
Houses are great, until something goes wrong. In just the same way as you would if you were in a Build to Rent apartment, you can expect excellent levels of service in a house. Initially looking at renting as a temporary solution before buying again, Jeanie with her husband, son plus two dogs contacted Build to Rent developer Simple Life. “I was a little apprehensive at first as I’d lived in rented accommodation in the past and had some problems with stolen post and poor-quality, unsafe appliances,” says Jeanie. “I’m used to rental homes being low-quality, but everything here is high-spec and brand new. We’ve got high-quality integrated appliances and soft grey carpets. If you need any help, you know you can call the maintenance team and they’ll be out to fix any issues, free of charge, and that’s a huge benefit to us.” click here to read her case study.
Ideal for families
Renting a house in the Build to Rent sector is ideal for families on many levels. The high standards mean that many families are attracted by the lifestyle options as well as the home itself. Modern families require modern amenities so you will find many houses in the Build to Rent market offering multiple bathrooms, ideal for teenagers, additional downstairs rooms that make great playrooms and large kitchen/diners where the whole family can eat together. Many will also offer extra services such as cleaning, laundry and a reduction on life admin with utility bills included in the rent. Click here to view family homes.
A huge choice of availability
With more people choosing to rent, developers in the Build to Rent sector are creating homes for a wide range of people. If you want to live in a smart, hi-tech home in the city with yoga studios and co-working spaces, then there is a huge choice out there. And equally, if you want a family home, there are lots more choices out there for a wide range of families or individuals looking for a relaxed pace of life in the suburbs where you can put down roots and integrate into the community.
What to look for in a rental home
- Look for storage options, it’s surprising how easy it is to fill up a home with stuff.
- Measure the space if you are renting unfurnished so you can check what furniture fits.
- Check out the position of power points when you consider how you are going to use each room.
- Make sure there are no Wifi dead spots or a poor phone signal.
- Find out what parking options there are.
- Ask about local schools if you are moving with babies or children.
- Many houses in the Build to Rent sector are pet friendly but check before you view.
- Ensure the house has good security features.