Podcast Summary
City center living: A controversial trend: City center living, with its luxury skyscrapers and apartments, is a source of controversy. While some criticize it for negative impacts like homelessness and gentrification, others see it as a positive investment that generates revenue for local authorities to improve community facilities.
The trend of city center living, with the construction of luxury skyscrapers and apartments, is a topic of controversy. While some, like The Guardian, view it negatively due to concerns over homelessness and gentrification, others see it as a positive investment that regenerates areas and brings in much-needed revenue for local authorities. This revenue can then be used to improve facilities and services for the community as a whole. The Guardian's article on Manchester's skyscrapers, while critical of the trend, fails to acknowledge the potential benefits and the contributions developers make through Section 106 agreements. Ultimately, the debate surrounding city center living and its impact on communities is complex, and it's essential to consider both sides of the argument.
Build to Rent industry expanding beyond city centers: The Build to Rent industry is growing and diversifying, focusing on city centers but also catering to later living, co-living, and houses. Smaller funds are investing in houses, but market saturation may eventually limit growth.
The Build to Rent industry, which provides privately rented housing, is expected to continue focusing on city centers and catering to younger people in the next decade. However, it's also diversifying and expanding to other areas, such as later living, co-living, and houses. The growth of the sector may eventually be limited by market saturation, but for now, there's a lot of enthusiasm and investment. The industry is also seeing the emergence of smaller funds investing in houses, which may take longer to gain traction. Despite some controversy surrounding its impact on homelessness, the experts interviewed believe that the problem is not directly linked to the Build to Rent industry. Instead, they suggest addressing the root causes of homelessness separately.
Build to Rent vs Buy to Let: Competing Markets?: Build to Rent (BTR) is expected to grow in the private rental sector, but its competition with Buy to Let (BTL) remains uncertain. Both markets may coexist, with BTR expanding into smaller areas and filling potential voids left by BTL.
Build to Rent (BTR) is expected to continue growing and diversifying in the private rental sector, but it may not directly compete with Buy to Let (BTL) as a substantial portion of the market just yet. The competition between the two will depend on the response of the BTL investor market and the rate at which the BTR market can fill the potential void left by the BTL market. The growth of BTR will also lead to expansion into smaller areas, such as Plymouth, as technology advances and rental values increase. However, the success of BTR in taking market share from either BTL or owner occupiers is uncertain, as people's preferences and psyche towards homeownership and rental properties can be complex and multifaceted. Overall, the future of the PRS will involve a more holistic approach, considering various factors and market dynamics.
Treat tenants like valued customers: Treating tenants with respect and prioritizing their experience can lead to fewer issues and better tenant satisfaction, making the landlord role more rewarding.
Treating tenants with respect and prioritizing their experience as if it were their own home can lead to a more positive and easier landlord-tenant relationship. The buy-to-let and build-to-rent markets are responding differently to challenges around customer experience, and adopting a customer-focused approach can result in fewer issues and better tenant satisfaction. This is especially important for newer investors who may be entering the property market with the recent tax changes in place. While it's natural to view your investment as your asset, it's essential to remember that it is also someone else's home. By recognizing this and treating tenants as valued customers, you can create a positive living experience for them and make your role as a landlord more rewarding.
Bridging the gap between landlords and tenants with prop tech: Prop tech tools like Babu facilitate ongoing communication and reward tenant engagement, helping landlords differentiate themselves in a competitive market and foster better tenant relationships.
In the realm of property investment, particularly in urban areas, competition can be intense and tenants are known for their fickleness. This is a concern for Build to Rent investors who have stabilized their properties for several years, only to face new competition. However, there's a growing demand for tenants seeking a more intimate relationship with their landlords. Prop tech solutions, such as engagement tools like Babu, can help bridge this gap by facilitating ongoing communication and rewarding tenants for their engagement. These tools can help replicate the Build to Rent experience while maintaining a professional relationship. In contrast, traditional block management only offers interaction when there's an issue or a bill to pay, which is not an ideal tenant experience. By focusing on customer experience and utilizing prop tech solutions, landlords can differentiate themselves in a competitive market and foster better tenant relationships.
Creating value through positive engagement in rental communities: Renting offers flexibility, potential passive income, and financial security during economic downturns, making it an attractive long-term investment option
Creating positive engagement with people, even in a rental community, can create valuable assets for the future. While the idea of having a physical asset like a home to retire to is traditional, the concept of renting as a long-term investment is gaining traction. Renting, whether it's build to rent or buy to let, offers flexibility and the potential for passive income. During economic downturns, rental levels are less affected compared to purchasing environments, making rental an attractive option for those who prefer not to commit to long-term assets. In essence, rental properties can serve as valuable assets that provide financial security and flexibility in uncertain times.
Build to Rent: A Growing Trend in Real Estate: Build to Rent could improve the industry's image and lead to significant rewards for investors, but staying informed and prepared is key.
Build to Rent is a growing trend in the real estate market, and while it may seem like a threat, it could actually be a good thing for the industry as a whole. This trend started with the student housing market and led to the professionalization of that sector. Although the impact of Build to Rent on the overall buy to let market will be gradual, it is important for investors and landlords to be aware of it and prepare accordingly. The trend towards professionalization is inevitable, and those who fail to adapt may be left behind. The reputation of the buy to let sector as a whole is currently tarnished by a few bad actors, and the arrival of Build to Rent could help improve the industry's image. Investors should not panic or feel intimidated, but rather stay informed and take action in their own time. As always, we encourage listeners to share their success stories and remember that even small steps, such as making the decision to invest, can lead to significant rewards.
Sharing stories and experiences can inspire and motivate others: Documenting journeys provides insights and celebrating achievements sets new goals. Sharing stories on podcasts can lead to financial rewards and inspiration.
Sharing your stories and experiences, no matter the platform, can lead to inspiration and motivation for others. Charlie's success story of buying eight properties and becoming financially free after discovering the Property Hub podcast is a testament to this. Additionally, documenting one's journey, as demonstrated by the Start Up podcast, can provide valuable insights into the process of building and selling a business. The recent acquisition of Gimlet by Spotify for $340 million highlights the potential rewards of persistence and hard work. It's important to celebrate achievements and set new goals, just as Charlie did after reaching financial freedom. And don't forget to sign up for the Property Hub's email for valuable resources and content delivered straight to your inbox every week.
Exploring Build 2 Rent: Benefits and Challenges: Learn about the potential of Build 2 Rent investing through personal experiences and insights from the Property Hub hosts, Rob and Rob.
Key takeaway from this week's two-part episode on Build 2 Rent is the potential for investing in this property strategy. The hosts, Rob and Rob, shared their personal experiences and insights, highlighting the benefits and challenges of Build 2 Rent. Despite the challenges they faced, they emphasized that it was still a fantastic listen and a valuable learning experience. If you missed the episode in your podcast feed, you can find Property Hub on Spotify. Subscribing through Spotify is an easy way to consume podcasts and enjoy the hosts' lovely faces when you open the app. Don't forget to engage with Property Hub on social media platforms like Facebook, Twitter, and Instagram, and check out their YouTube channel for more content. The hosts encouraged listeners to share their thoughts and suggestions for future topics. They will be back with another episode next Thursday, and there's an Ask Rob and Rob episode coming up on Tuesday. Until then, have a great week!
