21 December, 2024 / Category: Blog
As the build-to-rent (BTR) sector continues to boom, renters are spoiled for choice, with countless developments competing to catch their attention.
With so many options, how can your BTR project rise above the noise?
One way to make a lasting impression is by bringing key amenities to life early in the process.
Think about it: renters want more than just a well-designed apartment—they’re looking for a vibrant, connected community. A great way to showcase this potential is by introducing a café or other standout amenity as soon as you start leasing.
As a specialist leasing partner in BTR, we know what renters want. Many of the customers we bring into our clients’ projects are young CBD workers aged 25-40 years who are moving closer to town from underserviced communities in the outer suburbs.
They want to cut their commute and they expect the increased amenity that comes with being closer to the action.
It can be tempting to delay the opening of retail until enough of the building’s occupants have moved in. But establishing a temporary café or barista station early in your BTR project creates a compelling drawcard, signaling progress and activation.
In a competitive market, renters are less inclined to move into developments they perceive as incomplete. By bringing retail offerings online ahead of full project completion, you can create a sense of vibrancy and community that attracts tenants.
Rather than relying solely on leasing discounts, consider incentivising retail tenants to open sooner by offering reduced rents.
Early retail activation not only enhances the appeal of your project but also drives leasing success, setting your development apart in a crowded market.
Early amenity is just one strategy to stand apart. Stay tuned for more tips on how to differentiate your project in today’s competitive BTR market.