This type of accommodation has become the norm in places like New York with apartments for renters offering climbing walls, golf courses, cinema rooms, basketball courts, private roof top gardens and concierge service however it is a concept that maybe new to many in the UK.
One company forging ahead are Moda Living who as the name would suggest are offering a new lifestyle choice for renters which they claim is ‘pioneering positive change to the UK rental landscape.’ Part of this change seems to be staying ahead of the crowd and genuinely offering something different. One article I read recently advises that at their latest Manchester development they are offering tenants £100 wort of Uber trips every month if the tenants forgo having a parking space. With the ease of using Uber in a location like Manchester it is a stroke of genius and allays any fears a tenant may have about being able to use their car in the city.
With their mobile app, 24 hours concierge service and valet parking if needed, this is certainly the place to be if you want a slice of luxury and can afford it.
So what can we learn from these new ‘pioneers’? It’s clear that thinking outside the box is a plus point and so is the ease of use of the space and functionality. I can think of nothing I’d like more than a 24hr concierge service. While it may not be realistic for County towns to offer this level of service we all know local developments that are one step ahead and achieve premium rents. Larger scale investors may need to consider how to put themselves 2 or even 3 steps ahead and looking at someone like Moda Living may not be a bad idea.
In our local county town of Stafford parking is difficult, with plenty of yellow lines and expensive all day parking. We may not yet have the biggest Uber community but it is growing in our neighbouring city of Stoke On Trent. Perhaps landlords of town centre developments can now start to look at new ‘extras’. Usable and attractive communal gardens, gym memberships, takeaway services, alternate parking or even taxi services are all things that could be achieved locally. It could also prove profitable for landlords with aspirational homes achieving greater yields with faster turn arounds.
If you need advice from Dourish & Day on how to make your next or current development stand out from the crowd give us a call. As your local property experts, we are always here to help.
*Picture credit - Moda Living - Angel Gardens, Manchester