The Telegraph reporter Jack Torrance covered an accurate, positive approach to the BTR industry debating if the sector can save tenants from low quality landlords. He draws attention to the fact that we all know someone with a horror story about renting from buy-to-let landlords. Such horrors could include being left freezing after the boiler breaks down or not having the full deposit amount returned for not dusting properly before moving out. Torrance mentions the struggle for people in their 20’s and 30’s to save enough to buy themselves out of such bad situations by earning and saving enough money to eventually move into their own home, this opens his question of if the BTR industry can be the answer:
“Britain’s burgeoning build-to-rent industry hopes it can be at least part of the answer. Its basic premise is that by building flats on a large scale and then letting them out rather than selling them on a piecemeal basis, corporate landlords can afford to provide a better service than your typical buy-to-letter.”
Torrance recognises the BTR model is common in other countries such as the US and as we know prompted the need for the NAA. It has only been roughly over the last 2 years the UK BTR industry has started to grow significantly, this is reflected in the growth of the UKAA’s membership levels. A few members are mentioned in the article including Get Living, Be Living, Quintain, Legal and General and includes a quote from The UKAA President, Jonathon Ivory of Atlas Residential.
This is an insightful article providing a positive look forward to what the BTR sector can offer people wanting to simply enjoy renting and how key players in the sector are working to make sure this is fulfilled.
The full article can be found here:
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