Posted in Please Select 7 months ago

LM Living's Build to Rent Breakfast: A Summary

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On 1st October, LM Living hosted a Build to Rent Breakfast at The Oriental Club, which was attended by many of the trailblazers in the BTR sector. It was a great opportunity to come together and catch up on the market and common issues we are facing at this exciting time. We touched upon topics from skill shortages and recruitment obstacles to how operators engage and retain residents.

LM Living – How We Work

Hannah Taylor, Head of General Practice & Investment at LM Living, commenced the morning with a presentation on how we work at LM Living:  

  • LM Living is a specialist division of Lloyd May, which focuses on recruitment for the following areas: Build to Rent, Co Living & Student Accommodation.
  • All candidates are generated through our extensive network in this sector, referrals or direct headhunting. We do not use job boards so the majority of our candidates are ‘off market’ or passive job seekers.
  • Due to our experience in this sector, we frequently advise clients on salary bandings, market rate and job specifications.
  • We form partnerships with our clients and work as an extension of our clients HR/Recruitment team.
  • The majority of candidates placed within BTR roles are sourced from the following backgrounds: BTR competitors, residential agency, student accommodation and hospitality.

Attracting & Retaining BTR Candidates

We opened the discussion to the table to consider problems clients face attracting and retaining top candidates. Sowgol Zarinchang, Managing Director Way of Life, noted that interviewing candidates on the site as opposed to head office seems to be a good way of ensuring candidates are happy with the environment/site set up/team etc.

We discussed how many of our BTR candidates appear most interested in progression opportunities, training (such as ARLA and IRPM) and company culture.

How BTR Operators Engage & Retain Residents

The group unanimously agreed that Concierges or Front of House can be the make or break for the success of the site, as they really are the face of the scheme. Great customer service and good rapport with tenants from these individuals is crucial and has a real effect on how long tenants remain in occupancy.

Laurelin Taylor, Associate Director Savills, noted how important it is for any maintenance issues in communal areas to be displayed clearly on signs. Tenants who receive regular updates on any issues are less likely to complain or feel unhappy with service.  

Eva Kiivit, Regional Operations Manager Greystar, and Clint Bartman, Vice-President Fjeld Consulting, discussed how keeping on top of new technology that can be genuinely useful and convenient to tenants is a great way of ensuring tenants will not move on to schemes from other competitors as they emerge in the local area.

 

A huge thanks to all who attended our breakfast and we look forward to the next one!

Martha Kiernan

To discuss BTR opportunities or if you would like help recruiting for your team, please get in touch: martha.kiernan@lloydmay.com / 020 3574 4123

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