Around 40 developers, property consultants and block managers have sent an open letter to the new government to create economic and planning conditions which will allow the growth of the Build To Rent sector.
The 40, co-ordinated by the British Property Federation, say that the proliferation of Built To Rent properties will allow the creation of new housing as well as the transparent and consistent rental pricing and service quality that many parties have called for during the general election campaign.
The 40 have set out five specific requirements.
Firstly, that the new government should oblige local authorities to identify the need for market rented housing and allocate land supply to meet that need.
Secondly, the a Build to Rent industry team should work with local authorities to facilitate the delivery of substantial Build to Rent developments through partnerships and/or the use of public land.
Thirdly, that help should be given to the industry to develop “wholly different funding structures relating to Build to Rent compared with housing for sale.”
Fourthly, a new government should allow the rental sector to continue operating as a free market, which is vital to securing private and institutional investment for additional housing supply - this is an implicit criticism of many politicians’ calls for rent caps.
And fifthly, the signatories want the new government to “promote best practice and better inform the public so we can help improve the perception of the entire rented sector.”
