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Build-to-Rent Taskforce established

The Build-to-Rent Taskforce has been formed from organisations including the British Property Federation (BPF) and the Association for Rental Living.

The purpose of the group is to highlight the benefits of both the Build-to-Rent (BTR) and Single-Family Rental (SFR) sectors, while it plans to meet regularly over the next 18 months.

The taskforce is being chaired by Clive Betts, Labour Party MP for Sheffield South East.

Ian Fletcher, director of policy at the British Property Federation, said: “Build-to-Rent has made significant progress over the last decade, unlocking institutional investment to become an integral part of the housing market. 

“However, the government’s ambitious housing targets require all parts of the housing market to be operating efficiently and effectively. While Build-to-Rent has diversified out of core cities and into single family housing, and need for rental homes is well-identified, but very few local planning authorities yet have dedicated BTR policies. 

“The Taskforce is seeking to ensure that local authorities and planning decision-makers have a thorough understanding of how the sector is evolving and the contribution it makes to community and regeneration. 

“Against the backdrop of the government considering its 10-year housing strategy, there is a huge amount of investment interested in helping fund the chronic undersupply of new rental homes, which the Taskforce will seek to harness.”

BTR contributed 123,000 homes since 2012, with a further 158,960 either under construction or in planning, but despite its rapid progress it still only accounts for 2% of all privately rented homes in the UK. 

BTR is often seen as a strong solution to the rental crisis, as supply of rental housing is increasingly constrained. The number of BTR and SFR homes granted planning consent has increased by 35% over the past 12 months, suggesting some tentative green shoots.

The taskforce said it will consider introducing a consumer code to improve the resident experience.

Brendan Geraghty, chief executive of the Association for Rental Living, said: “The Association for Rental Living, whose membership includes investors and operators who own and manage 83% of UK Build to Rent homes, welcomes the creation of this Taskforce.

“It is critically important to raise awareness of Build to Rent’s potential to deliver homes and attract investment, to take this message to national and local government and create an environment that unlocks the potential for much needed new homes. We must remove any factors that limit the potential scale of this delivery or undermine the confidence of investors.

“With a key focus of the Taskforce being on protecting consumers, the BTR Code of Practice and Customer Charter that we are creating will be central to defining and confirming the high standards of customer treatment as well as the quality and sustainability of homes essential to meet housing need.”

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