Renters seek ‘bills included’ and longer tenancies at Built for Renters homes

If you’re looking to rent a home, chances are you’ll have a wish-list of everything you’re looking for from your new pad.

It could include finding a place where your pet is welcomed with open paws, or somewhere with outside space for growing your own veg.

Built for Renters, or ‘Build to Rent’ properties, often come with both of these things. As the name suggests, these types of homes have been specifically built to provide private rental accommodation.

They typically have longer-term tenancies, extra on-site facilities, and internal maintenance teams. Some developments will have utility bills included within the rent, while some come with other costs covered, such as WiFi, and council tax.

And unlike regular properties you might rent, these homes remain in the ownership of one landlord, or management company, and can’t be sold on.

What are tenants looking for from Built for Renters’ properties?

We’ve taken a look at the top features people search for when looking for a Built for Renters home on Rightmove, and with energy bills spiralling, it’s no surprise that we’ve seen the biggest increase in demand for homes with all bills included. Searches have jumped by 36% for this type of property in the past year, as more people seek homes where they can have more certainty over their outgoings.

The desire for outside space that became so important to all of us during the pandemic shows no sign of going away, with searches for Built for Renters homes with balconies and communal gardens up by 22% compared to last year. Enquiries for properties allowing pets and those offering zero deposits also jumped by 22%.

“For Built to Rent providers looking at which features to include in new developments, it’s clear that the desire for more outdoor space following the various lockdowns is here to stay, with a jump in demand for homes with balconies and communal gardens,” says our property expert Tim Bannister.

“One-bedroom Built for Renters properties receive the most interest of all property types, and although this was also the case back in 2019, we’ve now seen a shift in demand from studio flats to one-bedroom properties, perhaps so people have more space to work from home,” he adds.

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The header image for this article was provided courtesy of X1 Sales & Lettings, Liverpool.