Posted in Job Search Advice 1 year ago

Why you should consider working in Build-To-Rent

Build-To-Rent (BTR) - residential properties designed to be let out by a single company rather than sold or let by multiple vendors. BTR is a rapidly growing market in the UK - and is already a tried and tested model in the US.

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What is Build-To-Rent?

Build-To-Rent (BTR) - residential properties designed to be let out by a single company rather than sold or let by multiple vendors. BTR is a rapidly growing market in the UK - and is already a tried and tested model in the US, having been a stable market there since 1995.

BTR is growing most in major cities; in London and cities such as Birmingham, Manchester, Bath and Leeds, BTR is operational but also rapidly expanding across the UK. 

 Why should you consider a career in BTR?

In 2017, the built-to-rent market gained £2.4bn in investment and is expected to grow by 180% by 2024. BTR is clearly an emerging sector, and due to this there is a massive skill shortage. Candidates who do have exposure to BTR on their CVs are able to gain higher salaries and are seen as very desirable by employers. As the BTR sector shows no sign of slowing down, having this experience on your CV will put you in a great position in the market over the next few years.

The growing demand for BTR properties has led to many new roles in this sector, from more junior concierge roles to Community Managers, Marketing Managers & Directors. This rapid growth means that candidates have the opportunity to gain progression and manage teams more quickly than in other property sectors.  

Due to BTRs rapid expansion in the UK, there is a skill shortage of candidates with relevant experience, particularly in the mid-senior level. Community Managers, for instance, are often in charge of managing on-site teams, overseeing lease up & strategy, building management, health & safety, managing events and maintaining strong resident relationships. These roles require prior experience in most of these responsibilities and can be difficult to find in candidates who have not worked in BTR before. 

Candidates who have a combination of both Property Management and Lettings experience from a traditional agency background are strong contendors for these Community Manager type roles, as are Site Managers and Property Managers from the Student Accommodation sector.

As on-site roles within the BTR sector are often hybrid and require a range of experience, we would advise candidates to emphasise as broad a range of their skills as they can - whether this is prior retail/hospitality experience (showing their customer service skills), experience they have with tenancy administration or renewals, to any experience they have managing teams, dealing with health & safety, budgeting or marketing... it is all relevant in BTR!

 What skills do I need?

There are many transferrable soft skills that BTR companies look for. In particular;

  • Great customer service.
  • Personable and positive attitude.
  • Problem solving.
  • Good communication skills – written and verbal.
  • Ability to lead and manage a team.
  • Multi-tasking.
  • Ability to work alone.

 What are the core roles?

Here are some of the roles you can expect to look at when moving from traditional residential to BTR;

  • Community/General Manager
  • Resident Services Manager
  • Facilities Manager
  • Maintenance
  • Operations
  • Leasing/Lettings 
  • Concierges
  • Front of House
  • Marketing 

For more information on BTR jobs please contact Martha -

martha.kiernan@lloydmay.com / lmliving@lloydmay.com

 

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