With the volume of people living in the private rental sector continuing to grow, a new trade organisation has been launched to help protect the interests of consumers by driving up standards of customer service and delivery in the multi-home rental sector.
The UK Apartment Association (UKAA), a new cross-industry organisation, will aim to stamp out poor practices in the rapidly growing build-to-rent sector to help protect renters and improve the level of professionalism in the industry.
The UKAA, which aims to is help differentiate the multi-family housing market from the private rental service provided by small-scale landlords by driving up standards of customer service for tenants, has been approved by the Housing Minister Brandon Lewis, who is calling on the industry to work together to boost the supply of much needed homes for rent.
Lewis said: “I want to see the private rented sector respond to the nation’s housing needs by providing new forms of supply and improved quality and choice.
“I welcome the UKAA as a body that can help build the capabilities of the build to rent sector in this country, bringing together the needs of private renters with the institutional capital that wants to invest in meeting their demands."
The new trade organisation will provide industry training, best practices and networking opportunities, market data, a range of resources, among other benefits.
Various high profile firms and professionals from across the sector have already signed up to UKAA as members, including Savills, Atlas, Hermes, Greystar, and Manchester Life, with suppliers including Roomservice by CORT and Yardi.
Roger Southam (pictured), the founder of the UKAA and chairman of Chainbow, commented: “This evolution of the rental sector is creating some interesting dynamics and raising many questions about what renting in the UK should and will look like. There is clearly a case for using the extensive experience gained by the US and working together to create a more professional market to ultimately give renters a better service.”