But there’s an opportunity to communicate a more profound message than just the delights of living in a new apartment in a great neighbourhood, near to amenities, clubs, galleries and shops.
A lot of people already choose to rent, according to AXA, because they prefer the freedom it brings. To see renting as what you do while you save to buy or have failed to get on the property ladder is to miss the point.
By 2025, 60% of Londoners will be tenants, according to PwC, and renters are becoming less hellbent on owning things. They want access, flexibility and freedom. BTR is facilitating this shift.
Many of us see the benefits of streaming music on Spotify rather than curating a record collection. Furniture rental is growing in popularity as people want to be able to move with ease. And privately owned cars are losing their cachet as more opt for the convenience of share clubs.
Of course we need to celebrate BTR’s amazing apartments, views, rooftop gardens and communal social spaces. But first we need to understand that, as a country nearing a rent-versus-mortgage tipping point, BTR represents something big and exciting: a new way of living that embraces the positives of renting and makes it aspirational.
So the message needs to change: we’re not compensating for lack of ownership, we’re celebrating a lifestyle choice.
Mark Davis, creative director, me&dave