Major players in the Build To Rent sector are joining forces to see if they can give the industry a more memorable and interesting name - and possibly pep up its dull image.
The competitors are to sit on a committee operated through the BTR trade body, the UK Apartment Association.
Participating operators include Moda Living, Quintain, Greystar, L&G, Grainger, Get Living, PLATFORM_, urbanbubble, JLL, Homeviews and Love to Rent.
A statement about the new committee says: “Importantly, members will also explore the term ‘Build To Rent', its connotations and consumer understanding of the phrase, with consideration given to how the sector can re-position its brand and communications strategy so that it better resonates with the public.”
It adds: “While every company within BTR has its own meaningful narrative and identity, there is a common goal uniting each, and the belief that the sector will benefit significantly in the long term through collaboration.”
The committee claims that BTR can be a significant help in boosting the housing supply, saying: “With properties institutionally funded and owned, BTR assets are typically much quicker to bring to market than homes for sale, thus the sector is well placed to help address the housing supply crisis through expedited delivery of high-quality homes in the areas that need it most. The UK’s BTR homes and communities offer flexible (often fee-less) tenancies and professional management.”
The chair of the committee is a public relations executive - Lucy Sharp of Moda Living - who comments: “It is important for us to be aware of what others are doing, applaud efforts, acknowledge successes, and encourage innovation, because the success of one becomes the success of many.
“It has been inspiring to see the willingness and motivation from my peers to join forces in giving BTR the representation it clearly deserves. In a sector predicted to reach £550 billion over the next decade, there is room for everyone. The ethos of this committee is the understanding that if everyone is moving forward together, the sector's success will in time take care of itself."