A furniture firm which supplies to some Build To Rent operators has told buy to let landlords to up their game - and to make their homes more ‘Instagrammable’.
Hatch Interiors works with developers including Taylor Wimpey, Hill, Bellway and the Berkeley Group to create show homes and to dress Build To Rent properties.
Hatch’s head of Build To Rent - Jodie Wardell - says: “How can landlords compete in this shifting market? We think the answer is by making rental properties as welcoming and inviting and importantly, Instagrammable as possible.”
A survey by the firm shows that 82.6 per cent of tenants currently rent from a landlord, but 40.8 per cent of those - apparently - want to move into a BTR development.
Some 59.8 per cent of renters expect their place to be furnished “to some degree” although 88.4 per cent of those wishing to move into a BTR scheme don’t want a “cookie cutter home”, expecting developments to use different design schemes throughout.
Some 50 per cent of renters want kitchenware included, whilst 54.7 per cent expect cleaning equipment to be provided, and 41.9 per cent want the property to be well decorated.
Those wishing to move into BTR developments demand a sense of community with 42 per cent wanting a wellness facility like a gym or yoga studio, and 31.4 per cent wanting a communal working space.
Wardell says: “The growth of the BTR industry in the UK is exponential. A huge group of people - 40.8 per cent - say that if they were to rent, it would be in a professionally managed BTR development and this is a number we expect to steadily grow over time. The figure is even higher for families at 43.9 per cent.”
She goes on: “ Consumers expect more, renters expect more. We have become a demanding society that votes with its feet. BTR has raised the bar and landlords need to keep up if they want to compete.
“Modern renters want more than mismatched furniture and a landlord who takes weeks to get things fixed. They want, and expect beautiful homes and great service. Whatever side of the rental market an operator is on, they want to maximise their income.
“That means properties being filled with minimal void periods, people who can afford the rent, and residents staying longer-term. Using our insight, we design schemes that make empty properties feel like home and create impactful spaces that people are proud to live in.
“Hatch Interiors are experts in the market, we know what tenants want, and we help landlords and property developers to get the return on investment they want.”
The questionnaire found that 44 per cent of respondents regularly or frequently use their homes to WFH, with 82.8 per cent viewing them as “a sanctuary” and 74.1 per cent using them for family time.
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