WHAT TENANTS ARE REALLY SEARCHING FOR IN THEIR NEXT HOME
From luxury design to more outdoor space, the pandemic has impacted what new necessities people want from their home in both interiors and architecture, temporary ‘wants’ have now become permanent needs for future tenants.
WE EXPLORE 3 TOP TRENDS THAT FUTURE TENANTS ARE SEARCHING FOR & HOW NEW BTR DEVELOPMENTS ARE ADAPTING
LUXURY DESIGN
Good design attracts a price premium. The impact of the COVID-19 outbreak is seeing many people continuing to still spend more time at home. There is evidence of a clear trend to renters wanting high quality and well-designed homes, with over 10% of people opting for a more premium furnished home across prime London*.
Design matters to tenants; the importance of the internal and external look, feel, and ambience ever increasing in our experience-driven economy. Quality interior design is critical in creating comfortable homes where occupants feel safe, secure and happy. Research proves that furnished properties rent quicker, have lower voids, and let for less discount on their initial asking price than their unfurnished counterparts.
Within our BTR offering, quality assurance is critical. Our Buying and Design teams are committed to choosing the most reputable manufacturers, sampling the products in person and signing off all large and bespoke-made orders with 100% confidence in the product and supplier. We take the time to follow the journey of a product being handcrafted from concept to completion. Take a look at our Factory Vlog, where you can learn how we operate with sustainable practices and quality assurance.
COMMUNITY ENVIRONMENT
COVID-19 has been an unexpected hit for us all; it comes as no surprise that safe communal spaces have become a new top priority for tenants. It’s great to get a change of environment whilst working from home therefore communal areas need to be flexible in design which allows the spaces to go from daytime working environments to an ambient evening setting. The communal area our team designed at 8 Water Street boasts a private rentable dining room, residents lounge complete with coffee machine and self-serve bar, and a cosy screening room, known to Vertus club residents as the snug; perfect for a family film on a rainy afternoon. To create spaces for working remotely, our designers included a high-top table in the self-service bar complete with wireless charging ports.
We devote our time to researching the area and target demographic for your project. We explore every aspect of the resident’s lifestyle by putting ourselves in their shoes, allowing us to tailor our designs to each development, client, and location. Always considering our client’s key aspirations for the development and their sustainability journey, we deliver a seamless service with maximum appeal and return. You can learn more about the design of the communal area at 8 Water Street, here.
WELLBEING
It’s proven that natural environments have better physical health and mental wellbeing outcomes than those that do not; creating happier, healthier residents so they will remain a customer with you for longer. Whether it is a shared courtyard or private balcony, outdoor space is more important than ever for your tenant’s mental wellbeing.
The roof terrace seen at 8 Water Street is the largest outdoor space in the Vertus portfolio. Hosting contemporary lounge seating, dining tables for summer alfresco dining and an outdoor bar for residents and visitors, which can be enjoyed all year round. Complete with a private garden below the terrace, there is plenty of space for entertaining or be at one with nature with the perfect reading nook.
Come speak to us in person at the Build to Rent Annual Conference this September! Here, you can gain a bigger insight on how to understand and support your resident’s mental wellbeing with our Associate, Charlotte Robertson.
To ensure your tenants getting the fresh air they need.
If you would like to find out more about AGC’s innovative Build-to-Rent offering, view our new brochure here. To get in touch directly with our BTR team, contact them at:
+44 (0)20 3651 3325
*(LonRes, 2020)
*All statistics provided in the AGC BTR Dataloft report.