One of the UK’s largest build-to-rent landlords has moved to a no fees and lowered deposit model for tenants at its flagship development.
Be:here, which is the build-to-let arm of developer Wilmott Dixon, has revealed that tenants at its Gatefold development in Hayes, West London will no longer be charged to updated contracts when sharers change or have to pay admin fees, letting fees or processing fees.
Also, tenants will now only be required to put a month’s deposit down when moving in, down from six weeks.
The build-to-rent company says the change is “driven by a desire to make moving as cost effective as possible for tenants”.
Be:here also has an unusual approach to pets, each of which is charged a £20 monthly rental. It also does all of its letting in-house rather than using an agent and says the latest announcement means the site now offers no-fees renting.
Its Hayes site, which used to be a vinyl records factory, has 119 apartments and as well as interiors designed by furniture retailer Habitat, offers one bedroom apartments to rent rom £1,200 a month and two-bedroom apartments for a two-bed unit.
Three-year contracts
Be:here has used the build-to-rent site to ‘pioneer’ several other renting innovations including, in July this year, three-year contracts as standard, saying at the time that a “new era is dawning for renters”.
Tenants are get broadband, a phone line and some calls as well a concierge service included in their rent.
Until now the Hayes site had charged tenants fees including a £300 refundable holding deposit and a £48 referencing fee.
“We recognise that moving can be an expensive and stressful experience,” says Akash Sharma, the sites Assistant Property Manager.
“We’ve already cut out some of the stress of moving house by providing superb, fully furnished apartments here alongside inventories and check-in being done in-house by our on-site team. Now we can reduce the cost of moving for our tenants too.”
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