News From First Flats to Forever Homes: Redefining Renting for Life

From First Flats to Forever Homes: Redefining Renting for Life

Features, News

February 05, 2025

The Renters’ Rights Bill has just passed its third reading in the House of Commons which is great news for the new generation of renters who may well rent for life. We know the reasons why many young professionals are giving up on the long-standing dream of home ownership, but it is not all doom and gloom. Whilst this may not be by choice, the emerging offers for rental housing are lifestyle focused and community orientated in a way that many traditional market sale products simply didn’t need to be. We lease our cars, we subscribe to our music, we rent our films, we rent our bikes, it is a cultural shift towards instant access, choice and experience.

If we look at that first major milestone in a person’s life; moving out of their parent’s home – there is now a great number of Purpose-Built Student Accommodation (PBSA) schemes that offer a comfortable and social first step in the rental life-cycle. While unrecognisable to older post-graduate generations, the new offer is trendy, healthy, and dynamic. After studying and potentially having moved to a new city, Co-Living expands the comforts, convenience and style this generation has become accustomed to into a social environment with amenities and greater independence whilst establishing their careers.   

As they form relationships with friends or partners there is the transition to Multi-Family Build-to-Rent (BTR). These homes are often pet friendly and designed to encourage a wider community feel and resident retention. Helping people to live city life to the fullest, they can work and play from home within the 15-Minute City. As they settle down, start families or simply want to move out of the urban centres, Single Family BTR provides recognisable quality and convenience with access to larger homes, and the bigger, biodiverse landscape amenities they’re looking for.

Moving to the later years, when there are challenges with health, accessibility or loneliness, Later Living rental options provide opportunities to age in place within these new suburban communities or the chance to connect with a variety of people and activities in more urban environments.

As an industry, we are seeing more and more housebuilders look towards BTR as a significant part of their developments. It’s a safer bet from a business viewpoint, with better access to funding and fast lease-up rates meaning that the rental sector can inject pace and momentum into the delivery of a wide range of homes during a time of housing shortage.

While the Renters’ Rights Bill provides much-needed stability and protections for renters, it also adds further constraints for private landlords who are being stung with higher taxes, higher interest rates and extra costs for remediation work. This is prompting more landlords to sell their properties reducing the pool of rental options further. Whilst this may stimulate movement in the housing market as private landlords sell up, it further challenges the newbuild sales market with increased supply of older sales stock.

BTR operators can fill this void by offering an improvement in design, services and experience for residents. This choice also offers more security through long-term leases as their home is a long-term asset being managed by an operator. The required longevity of BTR developments means focusing on quality, sustainability, and placemaking. Architects can shape these communities, integrating wellbeing and social connections, leaving behind the short-term “build it sell it, leg it” approach. Residents, or customers, have more mobility, more choice and will vote with their feet.

The true longevity of these schemes will rely not only on good design but sustainable long-term management. Many pioneering social housing estates have failed for lack of management and maintenance. BTR residents can simply choose to move.

There’s never been a better time to embrace the evolution of renting for life, and to design homes which cater to the different phases of life with a standard of service we have not seen before. This is the end of the resident and the beginning of the customer, and now with more choice than ever.