When finding a new place to live, renters usually look in their local area without venturing too far afield, so these findings are particularly surprising.
According to Savills’ blog, some of the reasons behind this difference lie in the unique characteristics of build-to-rent properties. One of these is improved efficiency compared to other types of rental homes. These new-build properties often include modern, luxury property amenities, and the maintenance and utility fees are good value for money, as they are split between many renters. The management and service available at build-to-rent developments add comfort and convenience, attracting renters from further away searching for an enhanced lifestyle.
Many build-to-rent properties are built in prime urban locations with good transport links. They can also offer better energy efficiency – a hot issue in the current market.
These rental properties are typically associated with higher monthly rental costs due to the high-quality amenities and attractive lifestyle on offer, making them a good prospect for those investing for a monthly income.
Therefore, build-to-rent accommodations are usually populated with higher-income individuals, which may also explain why they have the means to move further away in search of the perfect residence. Build-to-rent developers also often have the means for high-quality marketing and schemes to attract tenants outside the local market. Learn more about how UK property investment companies work with our dedicated guide.
