Page 2 - PRS Brochure
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The PRS revolution is here to stay...
and Mainstay are transforming the market.
The PRS revolution
PRS is in fact not a new term. Decades of buy to let landlord activity has driven a fragmented private rental sector, with over 98% of stock currently in the hands of individual landlords or small entities.
For house builders and developers, the transition from build to sell, to build to rent (BTR) model, addresses a number of issues within the current PRS framework. As new BTR stock becomes available on the market a new operating model will become a norm, where stock is owned by a single entity, operated as a single investment and professionally managed.
Mainstay recognise that the management of residential portfolios is now longer just about rent collection, enhancing rental income and maximising capital growth.
e resident-led demand for a 5*hotel style customer service experience from a digitally, smart phone savvy, generation-rent customer, will make no distinction between ‘owning’ a long lease or ‘renting’ through an assured tenancy.
e opportunities and bene ts that PRS / BTR bring, include:
Increasing housing supply with a focus on a renting generation who cannot a ord to enter the property ladder. Evidence suggests BTR can accelerate build out rates by three to ve times and provide a market worth £60bn
Increasing quality of housing standards and living standards for communities via professional management
Placemaking and regeneration bene ts
Increasing economic growth
Securing long-term income streams and diversifying risk for
developers and investors. Recent research shows rents enjoy
an above in ation growth cycle
Supporting local authority policy ambitions
The Current Challenges
Mainstay believe that PRS needs a fresh and fundamentally di erent approach to the more traditional forms of property and asset management.
rough our unparalleled and extensive experience in the residential block and portfolio management sector we have determined the issues associated with the current PRS market.
ese inherent problems include:
Lack of engagement from remote landlords Ine ective customer service
Rigid in exible contracts
Lack of nancial transparency
Poor building functionality Poor quality design
Poorly managed public areas
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