6th
Apr 2021
A contributor to the Big Issue magazine has written a piece in the magazine saying that corporations investing in Buy-to-Rent properties are more professional in the way they handle private tenants than ‘atypical’ landlord.
Jonn Elledge, who writes articles for the Big Issue as well as the left wing politically based New Statesman, does say that tenants could have fears of a corporation being unsympathetic compared to a landlord who has a couple of properties.
But he criticises the value of the so called ‘amateur/accidental’ buy to let landlords to the private rented sector and states that corporations are more than likely to have better resource powers to look after maintenance and repairs; they may also have their own brand images to sustain and with their in-house departments will be more adept at dealing with the forever changing legislation and regulations.
Elledge wrote: “A private rental sector with a bigger corporate presence is likely to be a much more professionalised private rental sector, in which landlords understand that tenants are a customer and providing for them is a job – as opposed to the status quo, in which some landlords seem to think tenants should be grateful for the opportunity to rent from them.”
The piece does not mention the Build To Rent sector by name, but the contributor mentions several positive references to John Lewis, which is intent on increasing its profits away from retail sector of which one of its projects will be BTR.
According to a Build To Rent specialist management company, BTR accounts for 53,750 homes in the PRS which has risen over the past four years by 135% - however it is still only represents 1% of the private rental sector.
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