The build to rent sector is competitive, and if you work in that sector you’ll know it’s the finer details that can influence a potential tenants decision making. The majority of tenants in the rental sector in the UK are in the 16-34 demographic* and they’re looking for a temporary home in an urban location, with excellent transport links, without the hassle of owning a property and having to fully fund all the necessary maintenance. So, it’s important for developers to make their buildings and properties as desirable as possible to this audience.
But, what are the key things they’re looking for when looking for a new home?
Location
Location is typically top of the list. We’ve touched on this already, urban areas, transport. Typically this age group are going to be young professionals in the midst of their careers. They want to be able to easily get to and from work; they’re potentially working more than the usual 9-5 hours and they want a stress-free commute.
Pulse Fibre supporting rental developers with fast, reliable and efficient full-fibre networks
Amenities
Further to location and transport, it’s going to be local amenities. Where is the nearest supermarket or convenience store, gym, coffee shop, pub or restaurant – the 15 minute city. Can they access these amenities within 15 minutes by foot or bike?
Sustainability
Sustainability is also high on the agenda of millennials. Being presented by the news of global warming now on a near daily basis, this generation has rightly been taking it really seriously. This is going to impact decisions across their entire life; the clothes they buy, how they travel, and the places they decide to call home. Buildings using sustainable materials with excellent recycling facilities and green energy supplies are going to be ticks for these potential tenants. And that can stem right through to the utility suppliers in their rental property.
The environmental benefits of full-fibre networks
Cost
A large factor to the increase in popularity in the build to rent market is the minimal hassle from the tenants perspective. The ability to pay one monthly payment to a building owner or management company, that covers rent, service charges, council tax, and utilities, including broadband, is a huge advantage for tenants. The comfort and peace of mind of knowing exactly how much their essential outgoings are going to be every month, especially in an economic climate of fluctuating living costs, is going to be a big influence on any decisions being made.
Technology
Smart home devices have become something in younger tenants that is to be expected. The millennial generation have grown up with the internet and have been the fastest generation to adopt smart home technology. The ability to control their home’s climate, lighting, access CCTV and home security, all from their phone, is something they’re going to want. All of which will require a reliable full-fibre broadband in the property.
Pulse Fibre installations into rental developments can be integrated with your building management system, meaning your building management team can easily activate or deactivate a tenants full-fibre connection, whether they’re based on-site or elsewhere in your head office.
If you’d like to speak to a member of our team about how Pulse Fibre might help you offer a fast, reliable, and efficient full-fibre network to your tenants, get in touch.
Super-fast gigabit connectivity helps your project stand out.
Our head of Business development and comes with broad experience. Following 20 years’ service in the British Army, including 9 years in the Royal Signals, and following completion at the Royal Military Academy Sandhurst, 11 years in the Adjutant Generals Corp leading on Business and Finance. Following his service, Nathan moved into Private Equity and lead a private family office.
During his 5 years at the Family Office, he was a key leader in property development investments and excelled in developing start-up’s during their growth phase.
