PRS - Private Rented Sector
Comprising of purpose-built blocks of rental homes, Private Rented Sector properties (or build to rent as it is otherwise known) are let out and managed long term by a single company rather than being sold to individual landlords. The properties are designed and built specifically for renting, the primary motivation to keep the buildings fully occupied with happy tenants, with longer tenancies of sometimes up to three years. The sector is all about investing in quality, as both landlords and tenants seek security of tenure.
Already prevalent in London and the South East, build-to-rent is rapidly spreading wherever there is a strong demand for renting, making it an exciting and dynamic field to enter into. Being backed by the government as a way of providing new, high-quality rented housing, it’s undoubtedly an attractive field of the lettings industry, rich in opportunity. A sector driven by high standards with exceptional customer service at its core, people skills are an absolute necessity if you’re interested in working in the Private Rented Sector.