Interior view of Get Living Apartment in East Village, London

Weekly Sunday Market held in the East Village

Organised Community Events

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How to succeed in PRS

Developments

- 25 April 2018

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Rising house prices means that buying property is not an option for many - it is believed that in the next 15-20 years, more people will rent, than own their homes. Changing lifestyle choices, particularly in the 20-39 year old age bracket, has given rise to an opportunity in the rental sector and by 2025 the UK will face an expected shortfall of 1.8milliion rental properties.

Stable incomes and higher yields than government or corporate bonds makes PRS an attractive development model, so how can development companies stand out from the crowd?

Award winning ‘Get Living’ are a great example of PRS developers doing it right. They understand their audience and take the best bits of owning – the ability to decorate your own home, and combine them with the best bits of renting – not being responsible for on going maintenance and increased freedom. Through holding events and activities, such as weekend markets and Easter Egg hunts and ensuring that all retail units at ground floor level are hand picked and suited to the community, all areas are positively used.

Adventure In Architecture° are able to create unusual retail units, boutique fitness facilities and pop up experiences in addition to PRS units themselves to help developers create attractive spaces for the rising rental community. This is turn should lead to more stability in tenants, higher rents achievable and therefore better yields.

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