This is a comparatively new addition to the PRS but its starting to assume an important place in the sector as new initiatives are approved and investors enter the market. Its fairly well accepted that there has been a major shift in the way younger people view home ownership. With changing work patterns and the need for flexibility its understood that many would rather rent than buy even if they could afford to do so.
The problem is that there just are not enough properties to satisfy demand and this imbalance has been the focus of collaboration between developers , builders and the Government to develop affordable Build to Rent initiatives to fill the gap.
With some of the new build sites the numbers of applications for each property have run into the hundreds so theres lots of work to be done in the years ahead to expand this to meet the huge demand.