2024-10-23-莱坊-Build_to_Rent_Resident_Experience_Index_2024_7页_7mb

The Build to Rent Resident Experience Report Summary 2024

Introduction
Knight Frank's report assesses the resident experience and location quality in Build to Rent (BTR) schemes, examining how these factors impact operational performance and rental values. It includes two key indices: the Resident Experience Index (REI) and the Local Living Quality Index (LLQI).

Key Findings from Resident Experience Index (REI)

• 69% of BTR schemes achieved a score of 70 or higher in the REI, placing them in Band A or B.
• Band A schemes feature six community-focused services (e.g., resident lounges, outdoor spaces), larger units (average 63 sqm), better energy efficiency (£5.29 per sqm), and higher resident satisfaction (e.g., HomeViews scores).
• Factors driving resident experience include amenities, unit size, and management; Band A schemes see higher reviews for Facilities (4.2 vs. 1.7 in Band E) and Management (4.0 vs. 1.6).
• Average lease-up rates rose from 17 units/month in 2020-completed schemes to 47 in 2023-launched schemes, indicating strong demand and operational performance tied to resident satisfaction.

Key Findings from Local Living Quality Index (LLQI)

• LLQI evaluates locations across five bands (A-E), with Band A locations commanding up to a 14% rental premium over local averages due to better access to amenities, transport, and services.
• High-scoring BTR schemes often coincide with high LLQI scores, but location alone does not dictate performance; excellent resident experience can offset lower location quality.
• The indices highlight that amenities like green spaces and connectivity, weighed by category, contribute to overall quality, with cities like Birmingham showing strong center performance in LLQI.

Case Studies and Recommendations

• The Quality of Life Foundation survey indicates residents value community spaces, health improvements, and modern facilities, emphasizing the role of social impact in BTR developments.
• Moda Group's biannual surveys show residents highly engage with local amenities, with 41% reporting positive changes like improved community services and restaurant variety since moving in.
• Recommendations include focusing on design-stage factors (e.g., amenity provision, energy efficiency) to enhance resident satisfaction and integration into local economies, with opportunities for future development to boost sector-wide social value.

Overall Conclusions
BTR schemes with high resident experience scores can drive operational efficiency, increase occupancy rates, and command premium rental values. Strategic location selection and community-focused design are critical for sustained growth in the sector.