American-style renting lands in Sheffield
Mary-Anne Bowring 21/10/2019
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What Is “American-Style Renting”?
We’ve all heard the phrase “American-style renting,” but what exactly does it mean? Renters in Sheffield are about to find out. Last week, build-to-rent operator Grainger launched Brook Place, a brand-new residential development 10 minutes from Sheffield city centre comprising 237 “American-style professional private rental homes.” It is the first scheme in the city built and designed specifically for renters.
What’s on Offer at Brook Place?
Fully-furnished studios and one- and two-bedroom apartments are available, with:
- All utilities ready to go from day one.
- A selection of furnishing options and fully integrated appliances.
- Super-fast Wi-Fi.
- Co-working space for residents to easily work from home.
Residents also have access to:
- A residents' lounge and a games corner with table football.
- Three roof terraces and a podium garden to chill out and unwind.
Standard Features in Build-to-Rent Developments
The 'stay as long as you want' contract at Brook Place, with tenancies of up to three years, is becoming the norm for build-to-rent developments. Other standard features include:
- A 24-hour gym.
- Onsite management.
- A concierge desk.
- Bicycle storage.
What Sets Brook Place Apart?
Brook Place includes some notable features that may give the scheme an edge:
- Themed Interior Styles: Residents can choose between two colour palettes: blue and grey or copper and red hues, inspired by the nearby Peak District.
- Personalisation: Renters with longer tenancies will be able to paint and decorate their apartments, allowing them to personalise their space—a rarity in traditional renting.
- Lifestyle Events: An emphasis on lifestyle events, such as cooking classes hosted in the ‘experience kitchen,’ which features professional kitchen equipment, including a pizza oven.
Food for Thought for Other BTR Providers
Our Manchester office, LifebyRingley, will be keeping a close eye on the success of Brook Place. Some of these ideas could become a model for others to follow.
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info@planetrent.co.uk
0208 0599 550 (for sales)
Under Offer: This term applies to a property where the landlord is considering an offer but remains on the market. It implies that further offers may still be considered until the landlord formally accepts or declines the current offer.
Let Agreed: This term indicates that a landlord has provisionally agreed to enter into a rental agreement with a prospective tenant, pending additional checks and referencing. It doesn't require the prospective tenant to have paid a holding deposit.
Let: This term signifies an established binding rental agreement between the landlord and tenant.
For both lettings and sales, the guidance addresses additional terms:
New On The Market: This term is used for a property not advertised since its last sale or rental. It should only be used for a brief period.
New Instruction: It applies to a property assigned to an agent for marketing recently, even if it was previously listed with another agent without being sold or rented.
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New Method of Sale/Let: This term is used when a property is being marketed for sale or rent using an alternative approach to the original advertisement, such as transitioning to an auction or sealed bid.
Reduced: This term indicates that a property's price has recently been reduced. The reduction should be genuine and comply with the Chartered Trading Standards Institute's guidelines on pricing practices.