Private Rented Sector (PRS)
Build To Rent (BtR) developments have existed for many years under different labels and is essentially a term used to describe a block of accommodation where the asset is owned by one stakeholder as opposed to each apartment being individually leased. In reality, Build to Rent, PRS, student accommodation, and certain investment models all share a variant on the same management requirements and Realty is in a unique position to be able to manage these developments professionally and cost effectively.
The debated starting point for those seeking to manage the Build to Rent model, is whether the manager’s expertise should hail from high street letting/estate agents, the hospitality and hotelier industry or from block management. The Client must achieve high levels of occupation but also cost effective and high quality management and maintenance of the building as a whole. Many of our competitors from differing backgrounds have taken the approach of merging block management and estate agency skills (sometimes in house facilities management as well) together to deliver their Build to Rent management service in unison, however this is often where the phrase ‘jack of all trades and master of none’ gets repeated as very few have successfully brought all of the required skills under one roof.
Realty’s approach is different. We won’t claim to be an expert in a broad range of subjects when we’re not? We actually use the expert instead? So, Realty do have unrivalled expertise in block management and we have the customer focussed approach of the hospitality industry, but we are not estate agents. We have therefore partnered with some of the regions’ leading estate and letting agents to provide a Built to Rent management model that is truly professional and delivered with unsurpassed expertise at every level. Our service delivers high levels of occupation and expert property management both inside each apartment and throughout the communal areas of the development. On top of all that, we’ve been doing it for years before the term PRS or Build to Rent was ever invented!