Collecting data from across 247 Build to Rent (BTR) schemes around the UK, global property consultancy Knight Frank, in conjunction with Moda Living, has published the BTR Resident Experience Index.
The index is the first of its kind and provides a unique insight into what ‘best in class’ looks like within the UK’s BTR market.
The analysis underpinning the index provides each scheme with a resident experience score, which will allow investors, developers and operators to understand the impact that location, design and satisfaction can have on the lived experience of their residents, and the impact on operational performance.
Researchers at Knight Frank identified 21 unique social and economic indicators or ‘features’, grouped into six categories, which they believe influence residents’ experience of living within a BTR development. The six categories are quality of scheme, affordability, accessibility, sustainability, health and wellbeing, and tenant satisfaction, and include features such as amenity provision, walkability, energy costs, energy efficiency, air pollution and local crime levels.
A clear link was found between higher quality, well-located and sustainable schemes and overall resident satisfaction. Analysis allowed Knight Frank to rank schemes out of 100, with those scoring highest (70 or over) being grouped in Band A, with bands reducing in 10-point increments down to Band E (30 or below).