Looking for somewhere to rent in London? First, you should know what it means to live within a Build to Rent development. To help explain all, the HomeViews team sat down with Dave Butler, the Chief Executive of the UKAA.
Thanks for joining us Dave. Tell us, what exactly is the UKAA?
The UKAA is the organisation for everyone involved in Build to Rent (BTR), from the landowner to the developer, construction and operations. Eventually, the UKAA hopes to reach out to directly talk to consumers. We are relatively new as we were founded in 2016 as a branch of the National Apartment Association (NAA). The NAA is a comparable body in the US and has been around for 40 years and represents 9.5 million rental units. Very much larger that we are but maybe we will get there someday!
What’s the mission and vision of the UKAA?
In the long term, we want to help create the BTR brand within the UK. Firstly, we need to explain what BTR is so people have a clear view of it. We also want to ensure that customers get the best service they can by supporting the raising of standards. The key to this industry is focusing on the customer which is quite different to the traditional focus of companies operating in the residential sector. Additionally, we need to help the industry to develop as quickly as possible – by learning from the USA and encouraging the sharing of best practice. Everyone who works with us and everyone who is a customer of Build To Rent should have a positive experience.
BTR is new in that it is about buildings specifically designed for renting unlike the traditional rental market. The latter was not about purpose-built buildings, it operates on a small scale and is managed by people whose main living is not being a professional landlord. Over time the need for professional management, the need for processes and resources to deal with difficult circumstances, the need for genuine customer focus will come to the fore. We are trying to make sure that the BTR industry is ready for that.
You recently joined as the new Chief Executive, why do you believe the UKAA is needed within the industry?
I have been in this part of the property industry for the last ten years and have seen people learning and learning fast. My background before property was in retail and financial services. I was immediately struck in property by how much focus there is on the building and how little there can be on the customer service.
I have been a renter and my daughters are renters and like everyone who rents, we’ve seen the good and the bad. If you are paying a good rent for a property you should get a good service. There is a need for the UKAA to explain how and why BTR is different. I have always had a vision for what this industry could be and feel passionate about how we can deliver a great experience for people. I also think it is an exciting time to be in the industry, it is growing and expanding. Joining the UKAA at this stage of the journey is great, an opportunity to help get things right and genuinely make a difference.
What does BTR actually mean and how is it different to what we may view as a typical renting experience?
Design of the building
Most properties within the private rented sector (PRS) were not designed for renting – they were built for sale. There was no conscious planning for long term rental. Add to that changes in society and we now see growth in demand for different sorts of residents. From the traditional nuclear family – to professionals sharing for longer to couples or singles. So, the first key difference is design; BTR developments have been thought about differently, built to be hard wearing and easy to maintain. Equally If we want people living within BTR to stay longer term we need to create homes that they can personalise and not boxes to rent.
Unified management
The second key difference is that in the typical renting market the landlord is not usually on site. BTR provides you with a unified management with people on site to maintain, support and keep your home in good condition. The primary area of complaints in private rental is repairs. They do not get done or tenants have to wait for weeks to get a response from their landlord or agent. BTR operators live and die on feedback and reward their staff on the quality of that feedback. They are there to provide a service and look after their properties that are their investments.
Considering the space as a whole
Thirdly BTR operators think about the building, amenities and public space as a whole and manage it as a whole. In retail I remember being struck by the difference between owners who only thought about letting of individual units vs those who ran the whole centre. As a big shop they cared about every bit of spaces and operating it efficiently. It is the same process for BTR operators who want to create an enjoyable social experience for residents. They can focus on the public spaces, as well as the individual units. That is the advantage and the responsibility that we have in BTR, to create homes and make places where our residents want to live.
What does success look like for your team?
From an organisational perspective we have three objectives. First of all, we need to be financially sustainable and continue to grow our membership by giving them what they need. Secondly, we need to ensure that we have an influence on what is happening in the sector. Becoming the place to go to for key information. We will do this by providing resources that help the industry progress – conferences, research papers, round tables – which will create and enable innovation. Finally, we need to define the BTR brand and what it stands for. We want the UKAA to be recognised, referred to and consulted by key players. This includes government, local planning authorities, the media and ultimately trusted by consumers.
We are a relatively small team, Emma Henderson leads our operations and events activities. Leena Bakooree is in charge of communicating the messages we want to get across. The team led by my predecessor Michael Green did a great job in attracting members and now we need to take this forward to the next level.
Why should someone considering renting do so within a BTR development?
I would say just go and read reviews on HomeViews and you can make your mind up!
Finally, what role do you believe HomeViews can play in supporting your mission?
Because we are focused on the customer and customer voice, HomeViews is about supporting that customer mission. There is absolutely a need for a site that reflects resident opinion. It must be independent and trusted by customers and gain enough traction to become the recognised place to find honest and helpful reviews and information.
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