What is build-to-rent? We look at the new development in Wembley Park

Renting often receives a bad reputation when rogue landlords or managing agents are involved, and tenants don’t receive value for money.  

But a new development in North London hopes to redress the balance, offering tenants homes in purpose-built rental blocks of flats that include a host of benefits.

These include the utilities bills and broadband in the price, no deposit, and a concierge.

Other factors that may appeal to tenants include being able to bring your pet along to live with you – although you’d need to pay an extra amount every month for doing so, with costs varying from £50 a month for a dog, £30 a month for a cat or £50 a month for two cats.

Rental benefits: Some of the apartments have a view of Wembley Stadium

What does Tipi charge for at the end of a tenancy?

An inventory is carried out at the start of the tenancy and residents are asked to leave the properties ‘domestically clean’ on departure, meaning it does not insist on a professional deep clean to be paid for.

There is no deposit paid at the start of the tenancy and residents are required to pay for any damage they cause that is beyond wear and tear.

Tipi says there is a fine line between what is considered to be damage or not.

Generally speaking, it told us that it will not charge for small scratches or marks on the walls, and if there is a large stain in the middle of a carpet, then it will ask for a contribution rather than the full cost of replacing it.

Rajesh Shah, managing director of Tipi, said: ‘Damage has to be clarified as “beyond reasonable wear and tear”. 

However, this is so subjective and Tipi are generous to a fault because we have such an army of onsite contractors and maintenance support, led by the residents team.’

When pushed, he added: ‘I think the Oxford English Dictionary definition of damage which is ‘physical harm that inhibits normal function’ would be considered damage that we would look for assistance from our residents in rectifying.’

Build-to-rent

Purpose-built rental home blocks are common in other countries, especially in Germany, France and the US.

Another example is in the East Village, Stratford, in the site of the former Olympics athletes quarter, turned into 3,000 homes. 

The sector has expanded throughout England, with nearly 100,000 Build-to-Rent homes completed, or planned, according to figures last year.