Investors need to ‘up their game’ – dema…

“How can landlords compete in this shifting market? We think the answer is to make rental properties as welcoming, inviting and above all Instagrammable as possible,” said Jodie Wardell, head of BTR at Hatch Interiors.

The Essex-based interior design company’s survey found that 82.6% of tenants currently rent from a landlord, but 40.8% of them want to move to a build-to-rent project.

About 59.8% of renters expect their home to be furnished “to some extent”, although 88.4% of those looking to move to a build-to-rent arrangement do not want a “cookie-cutter home” with the expectation that developments will use different design plans everywhere, with 37.9% likely or very likely to choose somewhere that is professionally designed.

And 50% of renters want kitchen utensils included, while 54.7% expect cleaning equipment to be provided and 41.9% want the property to be well appointed. Another 38% of respondents want a concierge and 68.4% want outdoor space.

Those looking to move into new construction demand a sense of community: 42% want a wellness facility such as a gym or yoga studio, 31.4% want a communal workspace, 31.3% want a social space and 33.7% say facilities have time to spare to spend with neighbors is attractive or very attractive.

Build-to-rent growth accelerates

Wardell says the growth of the build-to-rent industry in the UK is ‘exponential’. “A huge group of people – 40.8% – say that if they were to rent, it would be in a professionally managed build-to-rent development and these are some of which we expect it to grow steadily over time. grow,” she says. “The figure is even higher for families at 43.9%. Meanwhile, 82.6% are currently renting from a landlord, so it looks like these tenants might want to jump in when something better comes along. The way we use our homes, changes, because we know.”

“Digital nomads, for example, can work anywhere. After the heights of the pandemic, when we were all desperate for a piece of outdoor space to call our own, 69.9% now say that if they had a common space, they’d want some of it outside. In our view, developers who offer communal outdoor spaces and individual balconies are on the right track, as are landlords whose properties are equipped with gardens.”

The survey of 1,000 people aged 18-64 in the UK also found that 32.5% of those looking to move into rented accommodation, 32.5% want it to be “ready to move in” and 37.9% a place where professionally designed, with these numbers increasing to 41.2% and 39.7% respectively for urban tenants living in cities.

“Consumers expect more, renters expect more,” continues Wardell. “We have become a demanding society that votes with its feet. Build-to-rent has raised the bar and landlords must keep up if they want to compete. Modern renters want more than mismatched furniture and a landlord that takes weeks to fix things! They want and expect beautiful homes and good service. Whatever side of the rental market an operator is on, they want to maximize their income. This means that buildings are filled with minimal vacancy, people who can pay the rent and residents who stay for a longer period of time.”

“Using our insight, we design plans that make vacant properties feel like home and create impactful spaces that people are proud to live in. Hatch Interiors are experts in the market, we know what tenants want and we help landlords and property developers achieve the ROI they want.”

The questionnaire found that 44% of respondents use their home regularly or frequently for WFH, with 82.8% considering them as “a place of refuge” and 74.1% using them for valuable family time.

An aesthetically pleasing home

Based on the findings, Hatch Interiors says renters value the aesthetics of their home, with an overwhelming 70.4% of all respondents saying the overall interior design of their home is important or very important. Overall, 29.7% of all tenants interviewed say they agree or strongly agree that they want their home to be professionally designed by an interior designer. And 28.6% of all tenants surveyed say they’re willing to pay more rent for higher quality furniture – jumping to 36.9% for the most socially active in this group.

Hatch Interiors’ bespoke design team has worked on high-end residential interior design and renovation projects in London and the South East, as well as working with top developers such as Taylor Wimpey, Hill, Bellway and the Berkeley Group to create stylish show homes. Thanks to this success, Hatch Interiors now has a 51,000 m² warehouse in Harlow, Essex, near the M25.

Investors need to 'up their game' - tenant demand shifts to BTR

Hatch Interiors has over 20 years of industry experience and the extensive ability to create luxurious, one-of-a-kind interiors that meet your exact specifications. The team of in-house designers is dedicated to creating bespoke interiors to suit your individual needs, while skilled joiners and upholsterers create exclusive furnishings to further enhance your plan.

Wardell concludes: “Our award-winning interior design team works with private clients and leading commercial developers to create impactful spaces that people are proud to live in. Our thinking goes much deeper than the visual appearance of the project, we propose practical solutions to bring our customers’ ideas and dreams to life. From initial ideas to a beautiful, contemporary finish, our designers help transform your space.”

“Furniture collections are curated by our design team and are a convenient, cost-effective way to fully furnish a property. To be truly move-in ready, our turnkey solution provides renters and homeowners with everything, right down to the details such as bath towels, hand soap, kettle, cooking utensils, wall art and cutlery.”

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