Private Rented Sector / Build to Rent Sector
The PRS (Private Rented Sector) and the BTR (Build to Rent Sector) in the UK is the fastest emerging market in the leasehold property management sector. It is predicted that the sector will be worth over £100 billion by 2022 and marks a ground-breaking shift in the way in which property is developed, owned and managed. This in turn provides new opportunities for MLM to advise our clients who are branching into this exciting new sector.
The entire approach to design and management advice has had to be adapted to move with the changing trends in how developers develop and capture tenants for their PRS developments. Clients are now retaining the developments, rather than selling apartments and moving on to the next development. They are retaining a long-term investment in the buildings and require a different style of management service from their agents.
MLM’s niche position in the property management sector and our approach of being one step ahead of the curve in property management thinking ensures we are at the cutting edge when it comes to advising clients in this emerging market.
The sector now calls for more advice to clients on how to future proof their investments and maintain their yield profile from the development stage to the management stage and through the entire life cycle of the scheme. Gone are the days when a development is just handed over to the Managing Agent at the point of completion of the build programme. There is a distinct need to engage the Managing Agent from the design stages as leaseholders needs and requirements have changed the face of what developers offer. This critical initial design phase will underpin any successful PRS scheme. The detailed knowledge gained over 30 years allows MLM to be forward thinking and provide this expert knowledge/advise.
MLM now manages some of London’s Landmark BTR schemes for our institutional clients in an increasingly important sector of the market. We also have a pipeline of new schemes completing over the next 2-4 years.
If you are interested in finding our more details of our BTR management services, please contact Michael Jacobs on 0208 492 9850 to discuss.