Build To Rent sector creates its own Code of Practice

A fledgling trade body has introduced what it calls “principles for a new Build to Rent Code of Practice that will be road tested by the sector to refine their implementation.”

The Association of Rental Living, which says it represents BTR providers, has discussed with others in the sector to identify seven principles of a new Code of Practice “which communicate the culture of BTR.” 

These are: Embed professional standards across all stakeholders; Adherence to high quality standard specification and design of homes and places; Actively respond to the climate crisis with responsible environmental policies and practices; Adopt fair, flexible, and responsible terms which promote lasting relationships; 

Cultivate community as core to BTR; Adopt a responsible, transparent culture and robust corporate governance; and finally Promote adoption of this Code.

“In response to demand from our members and the wider BTR sector, the ARL has delivered a series of proposed principles designed to communicate a clear definition of BTR and the standards to which the sector operates in terms of quality of accommodation, customer service, response to resident issues, communication, and resident wellbeing as well as clear and fair terms of tenancy. We now call for sector engagement on the practical application of these proposed principles” says a spokesperson.

The trade group says the “principles of the Build to Rent Code of Practice are intended for all BTR stakeholders, whatever their role in investment, development, operation, and supply.”

The road test will run until the end of 2024. The final version of the BTR Code of Practice will be published in March 2025.