I read with interest Barry Jessup’s piece last week on some of the challenges ahead in the nascent develop-to-rent sector.
We pioneered the branded living concept in the aparthotel sector and firmly believe that a customer-centric approach is equally important in BTR.
As Mr Jessup says, we are seeing more sophisticated players entering the market - but they will have to adapt to a more discerning customer.
Last week’s Property Week carried several stories of developers and investors increasing their exposure to the sector, which means more choice and a flight to quality.
However, as we finesse the product, the danger is we over-spec. Thoughtful design that provides flexibility is key, and operational efficiencies should be entrenched at the planning stage. Get this right and you’ll drive value by optimising rents and minimising operational costs.
Success rests on the ability to marry quality and flexibility at the design stage.