- 48% of landlords rent to families with children (NLA)
- Apartments with hotel-style service and utilities included in the rent, appeals to London’s families (Tipi)
The prevalence of families living in the private rented sector is increasing and for the first time has overtaken couples as tenants. The days of a clear path from getting married to buying your first home to having children are long gone. The latest data from the National Landlords Association (NLA) shows that landlords renting to families with children in the build to rent market have become more common than those renting to young couples for the first time – at 48% compared to 47% respectively. According to the NLA’s data, it is the first time that families have been the most prevalent type of household unit, as the clear benefits of a professional landlord offering leasing with no lettings fees is becoming clearer.
In the decade from 2004/05 to 2014/15, families living in build to rent units have grown from 30% to 37%. Improving standards across the sector mean that many families with children now see renting as a stable, long term prospect, offering a lifestyle as well as a home.
The UK’s lack of housing, particularly in cities, is also contributing to the rise of build to rent as the option of choice for families. The disparity between salaries and house prices, which in London in particular has made getting onto the property ladder harder to do as well as the affordability of the required lifestyle means customers are drawn to the rental sector in general and the all-inclusive professional landlord sector in particular.
Michael Allen, PRS Director at Tipi, comments on the recent findings;
“The NLA data shows the importance of designing new rental accommodation in London for families with children, not just for single tenants, sharers and couples, though those also remain important markets for us. As a build to rent development, we’ve been able to do just that and we have added family-friendly features and services that make the apartments ideal for family life here in London with Sky Sports, a pool table and outdoor terrace in one of the social spaces, super-fast broadband throughout and a play area for younger children in the acre of private landscaped gardens.
“Tipi’s amenities include apartments with a bathroom for each bedroom, ideal for families with older children and sharers alike. In addition, a range of hotel-style services, such as domestic cleaning, laundry and dry cleaning as well as secure underground parking, are available for families with a busy schedule who need to save time on household chores in order to get the kids to sports clubs, music lessons and social activities. We aim to reduce the life admin for our customers; we go beyond offering rents with utility bills included.”
Within the Tipi buildings, there are two shared social spaces with a lovely community atmosphere that are perfect as a retreat for families with children of all ages. A gym and cinema room are to be added to the available facilities later this year.
Wembley Park is a great choice for families. There are excellent local schools and the on-site community space, Yellow Pavilion hosts a vast range of activities for all ages every week, from football and arts & crafts to street dance and a youth groups. Meanwhile, there is plentiful outdoor space as part of the overall Wembley Park development and the nearby Brent Reservoir, provides a host of pursuits for families with children of all ages, from picnics to bug hunting.
And to top it all off, families at Tipi have easy access to central London for days out at museums and attractions, with Baker Street (and Madame Tussauds) just 12 minutes away on the underground. Wembley Park proudly hosts the SSE Arena, Wembley and London Designer Outlet both on the doorstop.
According to the NLA, renting privately has come to be seen as a stable option for families, with 76% happy with the length of their tenancy, 60% now seeing renting as not being a barrier to family life and 77% seeing their rented property as their home. So as far as families with children are concerned, a home in rented accommodation has become the norm, and thanks to Tipi, ‘normal’ just got a whole lot more exciting.
Apartments at Tipi are available at family-friendly prices, starting at £1,550 per month. Utility bills and 40 Mb/s broadband are included in the rent but ultra-fast speeds of up to 1Gb/s are available as an upgrade, ideal for the many hours teenagers spend watching Netflix or streaming music, and there are no agency fees to pay or end of tenancy cleaning costs.