Friday, May 24, 2024

What is Built to Rent and How Does it Work?

Property investment has been on trend for a long time. People take it as a means of long-term saving. But now the trends have changed a bit. Property Investment is still popular but today, people are not only involved in the traditional practice of buying and selling property. Built to rent is the new popular type of property investment.

As the name itself suggests, Built to rent means buying or building a property for the sole purpose of renting. Investors these days put their money in property which will be rented to tenants in future. The letting agents in Brackley explain how this arrangement works and what are its benefits.

Benefits of building to rent:

Built-to-rent serves several benefits to both the lenders and the ones renting. Below mentioned are some of the key benefits of this arrangement. These will help you understand why built-to-rent is the new choice of property investors.

Beneficial in the Increasing the count of new homes:

Built-to-rent increases the number of properties in the UK. This means that it will not only be a good source of income for the lenders but will also ensure a handsome amount of tax for the government. Also, people who wish to relocate to the UK for their work or education look for such places that can be rented easily. Built to rent will make housing easy for those relocating to the UK.

Tenants have more options:

Earlier tenants were limited to a few renting options available. But built to rent has allowed tenants to choose from more options. They can choose a property according to their choices, like the space, locality, housing type, amenities offered, and several other things. This makes the life of a tenant easy if he/she gets most of the facilities that he is looking for while he rents a house.

It’s favourable for long-term investment:

Investors usually contribute to a property for the long term. Built to rent is a great solution for those looking for long-term property investment. Built-to-rent offers to ensure a stable income for the lenders. Since the property is only meant for renting purposes, it is likely that the property is more popular among the tenants and won’t stay vacant for long if any tenant vacates it. Also, lenders do not have to do much hard work to find new tenants as the property is built for renting and is already in the eye of the tenants.

Multiple amenities and better living for the tenants:

The tenant has to face a lot of problems when he/she rents anything from an individual landlord. But, buy to let is opposite from it. As the target of the property is to attract tenants, it is built keeping in mind the needs of the tenants. Also, tenants get several other facilities like parking, internet connectivity, fully-furnished homes, gas supplies, etc. So the tenant does not has much to do. The rent might be a bit more, but it is worth the property. Also, all the tasks are carried out professionally, and things are more organised and convenient for both parties.

The above highlighted were some of the key benefits that built to let properties offer the tenants as well as the landlords. Below are some of the common queries associated with such properties.

Is built to rent similar to but to let?

No, the two types of investment are completely different from each other. Built-to-rent property is built to rent it to tenants and earn profit from it, whereas the buy-to-let property is a pre-built property that was either used by a family or something similar.

Buy-to-let properties are those that were not solely built for renting, but now the person buying it will use it for rent.

That was all the information you needed to have about the new built-to-rent culture. If you are also looking to invest in a property in the UK for the long-term, then building to rent is a great deal for you. Contact the estate agents now to know more about this arrangement of property investment.

Sam Allcock
Sam Allcock
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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