Editor's note: This brief was summarised by The Property AI Newsroom from a report by Landlord Today. Read the original article for full details.
NRLA says Buy To Let must work alongside Build To Rent
The National Residential Landlords Association (NRLA) has launched a new Build To Rent (BTR) arm, NRLA Living, which has published figures underlining the scale of the BTR sector's contribution to UK housing supply. The organisation's message is that buy to let and build to rent should work alongside one another rather than in competition.
According to NRLA Living, the Build To Rent sector has delivered an average of 61% of new homes built across eight of the UK's leading regeneration areas over the past decade.
The organisation also notes that, despite this level of output, Build To Rent still accounts for under 2% of the wider market.
What this means for letting agents and inventory clerks
For letting agents and inventory clerks working across the private rented sector, the NRLA's positioning is notable: rather than framing institutional Build To Rent and traditional buy to let landlords as rivals, the association is presenting the two tenure models as complementary parts of the rental market.
Where agents operate in major regeneration areas, the NRLA Living figures suggest Build To Rent schemes have made up the majority of new homes delivered there over the past ten years, so institutional rental stock is already a significant feature of many local markets. BTR represents under 2% of the overall market, meaning the majority of rental homes continue to be provided outside the sector.
The full report from Landlord Today contains further details of NRLA Living's figures and its call for the two sectors to work together. Letting agents and inventory professionals may wish to read the original article for the complete breakdown.
Source: Landlord Today