Build to Rent schemes in the UK are quickly becoming one of the most popular options for living, with the market experiencing year on year growth. Savills believe the BTR market could increase from its current £10 billion evaluation to £550 billion once the market has fully matured. The scope for growth is staggering, but these projections can only be met if BTR operators continue to play an important role in the lives of residents.
Part of the appeal for residents in a build to rent scheme is that they get to live in modest luxury for an affordable price. This means everything from the level of service they receive to the quality of the furniture must meet the residents’ high expectations.
Like in any development the furniture in it can become damaged over time, particularly in communal areas where there is greater footfall and use. Finding a furniture supplier who also offers a replenishment service is handy to make sure you can easily replace worn pieces and therefore ensuring your residents get the quality they’re paying for. Replenishment is one of our key services. We explain the importance of replenishing furniture and how our particular service makes life easier for you and your residents.
Why is Replenishing Furniture in a Built to Rent Scheme Important?
Residents pay good money to live in a Build to Rent scheme, and the average cost in the UK is around £868 per calendar month, depending on which city you’re based in. These costs come with certain expectations, and high quality throughout is a key factor. Damaged and unkept furniture can affect:
The Happiness of Residents
Many residents choose to live in BTR properties for the social aspects. Communal spaces offer residents a great chance to make new friends and form strong bonds, which in turn leads to tight-knit communities. If the furniture in your social areas is tired and worn, it could make residents think twice about spending time there.
If residents don’t use shared spaces, they might not mix with their neighbours, leading residents to feel isolated or alone. These feelings would greatly affect their mental health, and could result in them moving out once their tenancy agreement is up to find somewhere more sociable.
By keeping the furniture in community areas up to scratch and on trend, you actively encourage residents to use the space, as it’s more inviting and gives off the right vibe.
A Potential Resident’s First Impressions
Replenishing your furniture keeps social areas looking tidy and well-cared for, which will go a long way towards building trust in you and your BTR property.
People want to be proud of where they live, and the quality of the furniture is key. When a potential new resident comes to view your Build to Rent scheme, you want them to have a great first impression. Damaged furniture sends out the wrong message, so it’s important to replace anything that could be potentially off putting.
According to Forbes, a person can reach their first impression within seven seconds, and some traits can be decided on within a tenth of a second. This means you have to make an impact on potential new residents from the start, and as one of the first places prospective new residents will see, a communal area that is cared for can help greatly.
The Safety of Residents
The safety of the residents in your build to rent scheme is paramount. While cosmetic damage to furniture won’t cause any physical harm, some furnishings can become dangerous to use if the structure has been weakened.
Loose chair legs, cracked glass tables and broken frames are all serious issues that need to be taken care of. We know you would remove seriously damaged items as soon as possible, but then you’re faced with an empty spot that needs to be filled so residents can carry on using the space as they did before.
Our furniture replenishment service means you won’t have this worry. We will source, deliver and install a like-for-like replacement as soon as possible, keeping communal spaces running as normal in the shortest time.
How LOFT Can Help With Furniture Replenishment
As part of our comprehensive service, we offer furniture replenishment to all of our clients, including BTR operators. When an item is purchased from us and needs to be switched out due to damage or wear-and-tear, our team will find a suitable replacement. We go the extra mile for our clients and can help in the following ways:
Free Key Collection
If the furnishings that need replacing are within a resident’s personal quarters, we can collect the keys to their apartment and carry out the work without them needing to be there. Once the job is completed, we will return the keys to the resident, so they can return home and enjoy their new furniture.
Quick Delivery Times
We know damaged furniture can spoil a resident’s enjoyment, which is why we endeavor to deliver replacements as soon as possible. Depending on your requirements and how soon we’re contacted, we can be ready to deliver replacements the following day.
You will be kept updated, so you know when to expect our delivery team. With distribution centres across the UK, including Manchester and London, you have to wait long.
Our delivery & installation team take the hassle out of building and installing the replacement furniture yourself. Our staff understands that operating a Build to Rent scheme isn’t an easy task, so we’ll help out by constructing the furnishings ourselves.
We’re very house proud in our own right, which is why we clean up after ourselves as well. We’ll take away any packaging and leave the area we’re working in looking clean and tidy.
Removal & Recycling
Recycling plays a huge part in our sustainable business plan. It’s estimated that Brits throw away 22 million pieces of furniture each year, most of which goes to landfills. Whenever we replenish furniture for our clients, we offer to remove, replace and recycle the old pieces, as well as all the packaging to cut the amount of salvageable items ending up in a landfill. We send 89% of recyclable waste to an RDF facility where it’s converted into electricity, and we work with specialists to recycle furnishings such as mattresses that are normally difficult to convert or repurpose.
Keeping Your BTR Scheme Replenished
There’s plenty of room for growth in the BTR market, but current residents and those showing an interest in it now need to be kept happy to make the scheme a huge success in the UK. By having a furniture partner you can rely on to replace damaged items quickly and efficiently, you’re reinforcing how beneficial BTR living can be. By partnering with us, you’re also helping to keep residents safe and making life much easier for yourself. To find out more information on our replenishment services, make sure to get in touch with our team.