Looking at the property market over the last decade, there has been an increase in the number of people renting throughout the UK. Property managers have been calling out to help them in the running of their portfolios
In 2019 the Guardian reported that around 33% of people living in London are now privately renting. Some argue that this is a new trend as a younger generation looks for a more complete and flexible lifestyle, a home that includes access to a gym, cleaning service and Wi-fi. Some economists have suggested it is more likely to be the inflated property prices and the demand on prospective homeowners to put down large down payments to secure a mortgage.
It is clear there is an increased demand in the rental market leading to the emergence of a new market, namely, Build to Rent (BTR). These provide rental accommodation with all amenities included and offer a solution to the UK’s current housing crisis. So far, the BTR market has attracted over £2.4bn investment; this is only due to increase over the coming years according to Knight Frank and Savills. As large pension and insurance funds are currently looking for stable, long-term income streams, the BTR market seems like a viable strategic option. Savills have reported that there are just over 148,000 BTR schemes either completed or under construction. There is a clear pipeline and financial support for this market which has the potential to shape the way people will rent in the future.
So, the question remains, where does Arthur fit into this emerging market? The answer is simple: as a tool for management teams to run their schemes. Businesses are looking to maximise their returns, either by increasing their revenue stream or cutting costs; the implementation of Arthur into you BTR scheme enables one to accomplish both.
The ways Arthur can help…
1) Implementing an end-to-end cloud-based technology allows you to create a centralised database, enabling you to track all available units, current and incoming tenancies and all relevant documentation. This significantly reduces time spent on administrative tasks.
2) Having access to our suite of applications for: property managers, tenants, contractors and property owners). This allows seamless communication between all four parties to reduce the amount of external messaging and calls from tenants, consequently enabling any relevant work to be completed quickly and efficiently.
3) Arthur is open API. Whatever infrastructure you have in place, be it a website or applicant form, an integration can take place. This can lead to an even more powerful and personalised system that is more sensitive to individual business models.
Whether it is an existing building that can be improved or a development in the pipeline, Arthur can be a strategy implemented by BTR schemes to maximise on their returns and transport their business into the 21st century.