‘What facilities do residents value and which should we be investing in?’ is a question the HomeViews Business team is frequently asked by the industry. We all know that if you ask a tenant ‘would you like a pool?’ they are going to say yes but what facilities would they pay for or that add value to their living experience? By looking at the Facilities Score of the 538 developments and 5,000 tenant reviews included within our 2020 National Build to Rent Report, HomeViews have taken steps to answer this question.
HomeViews is the review site for residential developments that invites residents of new build developments to write a review of and rate their building. Both tenants and owners rate the Facilities, Design, Location, Value and Building Management, as well as write a review describing their experience and the location.
The 2020 National Build to Rent Report from HomeViews Insights compares the Build to Rent (BTR) and Build to Sell (BTS) tenant experiences, as well as providing previously unpublished insights and data into the BTR experience.
Facilities Provided in the Highest Rated BTR Developments
With most of the Build to Rent developments in our report offering 12 or 24 hour concierge services, more renters are benefiting from a hotel-like experience. Of the BTR developments included in our report, 32% offer rooftop gardens, 74% are pet-friendly, over half offer a gym, 60% have communal spaces and a few also offer a private swimming pool for tenants.
The below table shows the facilities provided in the 2019 Top 10 rated BTR developments by overall Star Rating.
Within the 2020 National Build to Rent Report we looked at the correlation between facilities provided within BTR developments and what impact this had on the ratings. For example what correlation is there between the Facilities Score for a development and whether it does or doesn’t provide a Gym? Similarly what impact does a concierge have on the Management Score? What services do residents say they value the most?
Comparison to the Highest Rated BTS Developments
The below is an exert from a graph comparing the facilities provided by the Top 10 Rated BTR developments by Facilities Score in comparison to the Top 10 Rated BTS developments and the Bottom 10 Rated BTR developments for Facilities Score. As you can see all of the Top 10 BTR developments for Facilities offered pet friendly developments with communal spaces and a concierge.
In our report we have summarised our findings and put forward the facilities we believe are the most important to tenants.
“Perfect for those who are looking for high quality living excellent building management service and cozy atmosphere. Coming from the Nordics the quality and style of the facilities meet our expectations extremely well. You feel safe supported and welcomed by the staff including our dog. Whether you want to do gym work or party in your home building Vantage Point offers all of them.” Verified Review on HomeViews, Vantage Point by Essential Living, Islington
“The all night gym is fantastic to pick to go whenever suits and is not busy.” Verified Review on HomeViews, The Trilogy managed by Allsop, Manchester
The 2020 National Build to Rent Report is now available to order
