Battle for the ‘burbs – breaking into BTR’s new frontier
Johnny Caddick, chief executive at Moda Living, explains how its single family rental brand, Casa by Moda, is perfectly poised to meet the shifting demands of renters amid the cost of living crisis
Housing remains a hot topic in the UK. Whether it’s debate about the rising cost of living, government housing delivery targets or how the planning system can work better, housing is rarely out of the news.
Part of this conversation is often about ‘Generation Rent’ and the propensity for more people to stay in rental accommodation for longer. Statistics show that 20 per cent of residential properties in the UK at present are rented. That’s projected to rise to just under a quarter by 2025 and – by some estimates – may even reach 50 per cent in the next 20 years.
With a greater number of people renting later into their lives, there have been important shifts in the market. We have seen residents’ expectations around the quality of rental homes and the services they offer rise significantly. And as the UK confronts a serious cost of living crisis, the need for energy efficient rental homes that can help reduce energy bills is more important than ever.
As a genuine leader in the single family rental market, Casa by Moda is ideally equipped to meet these demands.
The new Prime Minister Liz Truss has announced some actions to address skyrocketing energy prices but with costs still high, energy efficiency remains crucial. At our Casa by Moda communities, we’re committed to providing our residents with energy efficient homes and sustainable communities.
We’re working with a range of technologies and techniques such as air source heat pumps that remove the need for gas supply across our neighbourhoods, and smart technology via our partnership with IoT specialist Utopi will be installed in all Casa homes. Utopi’s sensors will put live data in the hands of Casa by Moda residents, enabling them to monitor their carbon emissions and empowering them to make more energy efficient and sustainable choices. This will help residents feel more in control of their energy costs at a vital time – and allow the Casa by Moda team to identify residents with high energy usage and offer advice and support to help them reduce costs.
On top of this, we don’t require our residents to put down a costly deposit to rent our range of one-to-four-bedroom homes. We also provide tenures of up to three years to give them confidence and security – something that’s incredibly important at a time of great uncertainty.
At a time when many people will be feeling their finances squeezed by rising costs, we’re committed to creating vibrant, diverse and well-connected communities in the suburbs at an accessible price point.
Through our bespoke MyCasa app, our residents will be able to engage with other members of their community, report maintenance issues, pay rent, and get the latest neighbourhood news. To help create thriving communities which champion health and wellbeing, we’ll also run events for the whole neighbourhood including food pop ups, community BBQs and mental health workshops.
After four years in the making, Casa by Moda is already establishing itself at the forefront of the single family rental sector and changing the rules of renting. We’ll have 700 units underway by the end of the year and are well on target to deliver 5,000 new homes worth a combined GDV of £1bn across the UK by 2025.
With this market leading offering, we’re delivering modern homes that provide flexible, secure and sustainable living for everyone.