Build To Rent developer Be says it is moving to a no-fees model for its development at Hayes in west London.
From this week Be says it will charge no referencing fees, no fees for contract updates when sharers change and no extra deposits, admin or processing fees relating to pets - although a monthly 'pet rent' of £20 will still apply.
In addition, the company has announced that it is reducing its requirement for security deposits at its be:here Hayes scheme from six weeks' rent to one month's rent: it claims this will save new tenants over £500 when renting a one bedroom apartment.
"We've never charged agency fees because we do all our own lettings in-house, but we've gone one step further and removed the referencing fee and all other admin fees. This means new tenants have one less thing to worry about” says Akash Sharma, assistant property manager at the development.
Meanwhile large scale Build To Rent operator Legal & General has appointed James Robson as residential development manager, growing its dedicated team to eight to support its ambitions to have 6,000 units in planning, development or operation by 2020.
Legal & General’s current pipeline of BTR units is over 1,700 following its latest acquisition in Birmingham, which represents the sixth UK city to which it will bring its new rental offer.
Robson joins from CNM Estates where he was a director responsible for land buying, planning application management, financing and development.