London housing association L &Q has announced its programme to create 5,000 new houses for the Build to Rent sector in the capital. It is hope these properties will be ready in the next five years.
L and Q claim that this will be the, ‘UK’s largest selection of purpose built and newly refurbished rental properties.’[1]
Transparency
The group has also promised, ‘transparent fees and no hidden costs,’ which will be, ‘backed by a dedicated maintenance service which includes a 24-hour helpline.’[1]
‘We understand that renting is increasingly becoming a lifestyle choice for those who appreciate a more flexible and hassle-free living arrangement,’ said Diane Hart, L & Q’s group director. ‘This shift, coupled with rising house prices, has put the current rental sector under huge pressure.’[1]
Hart continued by noting, ‘as a result, homes with the right quality, value and location from trustworthy landlords are in very short supply, We believe choosing to rent should never mean compromising on location, quality, service or design.’[1]
L & Q enters the Build to Rent market
Deliverance
Concluding, Hart said, ‘our new rental portfolio will deliver on the expectations that today’s discerning tenants quite rightly have. People choosing to rent can pick from a wide selection of well-appointed, purpose-built or newly refurbished rental properties in great location to suit their lifestyle and their budget, with the added security of renting from a professional and experienced landlord.’[1]
L & Q currently rents out in excess of 800 homes privately and standard market rates, alongside managing over 70,000 homes across London and the South East.
[1] https://www.lettingagenttoday.co.uk/breaking-news/2016/1/operator-enters-build-to-rent-with-ambitious-5-000-property-programme