Professionalising the rental sector

By Michael Green, Chief Executive of the UKAA

The UKAA aims to become a clear mark of quality INTERNATIONAL and service for the build to rent sector giving brands a badge that customers can easily identify. It is about driving professionalisation through improving levels of service and choice to create a better rental experience for the customer.

We believe that the UK rental consumer deserves a high quality product tailored to the needs of modern living. As the UK market evolves customers will become increasingly discerning and will demand certain levels of service. Professionalising the sector will help build the commitment and drive for operators to run buildings to the highest standards and in turn make the UK model fit for purpose.

It is precisely because the UK rental sector is so diverse that an organisation like the UKAA is needed. We need to work together because the more good examples and experiences we can highlight and the more we can share our learned experiences, the quicker the market will grow and develop and the quicker we will create a critical mass that meets the investment demand.

We will offer organisations a forum to share best practice and benefit suppliers, as well as introducing professional qualifications by offering training and education, not to mention the huge networking opportunities. Already we have launched our first training programme, which focuses on customer service and aims to help operators focus on putting the renters at the centre of their business.

As the first international partner of the NAA in the USA, we can benefit from the extensive experience the Americans already have in this sector. We aren’t trying to replicate the USA, but we are seeking to bring all sides together to get the best delivery for the UK. The USA has a huge head start on the UK over the past 20 years, so its rental market is on a completely different scale at the moment. However UKAA it is predicted that institutional investment in the UK rental sector will treble in the next five years and that the whole dynamic of the UK rental market will evolve.

Over time as the multi-family offering in the UK develops, we hope that customers will choose to switch from tired and poorly maintained properties run by small scale landlords to new, professionally operated communities that offer resident services and amenities as standard. This is when renting really becomes a tenure of choice that benefits both residents and BOARD the wider economy.

We are always keen to hear the views of our members and others in the industry, so if you would like to get in touch, please email me at: [email protected]