Tenants are living in build-to-rent developments for less time than their counterparts in the traditional PRS – suggesting that they are not always the panacea for the housing crisis that is often claimed.

A new report by the Quality of Life Foundation found that three-quarters of tenants at three London schemes had only lived at their property for two years or less, while the English Housing Survey found the average tenancy is 4.6 years.

The report, published in association with the British Property Federation and Association of Rental Living, looked at how BTR developments impact resident wellbeing and the wider neighbourhood. It paints a rosy picture but points out failings in BTR developments including how residents struggle to manage warmer temperatures in their homes during summer months.

Tenants quizzed at the Gessner (Way of Life), Greenford Quays (Greystar, main image) and East Village (Get Living) wanted more specific services such as affordable stores for everyday essentials, and social infrastructure such as medical facilities, while they also flagged up the perception of safety in public spaces, particularly at night.

But the report found that 89% BTR residents are satisfied with accommodation compared with the 82% national average in the PRS, while 82% feel living in a BTR community has a positive impact on health and wellbeing.

Walkability

It adds that the positive impacts of build-to-rent developments appear to reach beyond the sites, as the developments were credited by members of the local community with improving walkability and enhancing cycling infrastructure, as well as providing easier access to leisure amenities.

Matthew Morgan (pictured), co-founder and director of the Quality of Life Foundation, says: “We do not claim that build-to-rent is ‘the answer’ to the housing crisis we face - that lies ultimately in a mix of new and refurbished homes and neighbourhoods that include social housing, homes to buy, community-led housing and private renting - but we believe that build-to-rent is part of the answer.”

Main pic credit: Hamptons

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