Build-to-Rent (BTR) has become a significant player in the UK housing market, with over 267,000 homes completed, under construction, or in planning as of Q4 2023. For property developers looking to capitalise on this growing trend, strategic interior design is crucial for attracting tenants and maximising return on investment.
Here are three key strategies for cost-effective BTR interior design:
1. Prioritise High-Impact Areas
Focus your design efforts on spaces with the strongest impression on potential tenants. Karolina Adamczyk, Chief Visionary Officer of Ademchic, advises:
"BTR Interior Designers need to have a big vision for positioning of the BTR project and its interiors but they also need to be able to leave their ego at the door. Ultimately, a BTR project is a commercial undertaking and our role as designers is to work to the budget that’s set. It’s not unusual to spend over 30% of overall project time on value engineering - that’s what we get hired for, to come up with a design that has a big impact on a budget”. then spend a good amount of time finding materials that will work with the overall budget. Some tricks we may use are pairing a cost-effective floor tile with a wow-factor entrance bar. Or suggest going for a more cost-effective furniture package in the lobby area and pair it with elegant fitted joinery"
Concentrate on entrance hallways, amenity spaces, and communal areas. These areas can create a lasting impact without requiring extensive renovations in individual units.
Source: Ademchic
2. Apply the 80/20 Colour Principle
Use neutral tones for 80% of the space, including walls, flooring, and large furnishings. This creates a versatile backdrop appealing to a wide range of tenants. Reserve the remaining 20% for strategic pops of colour in kitchens and bathrooms to differentiate your property.
Source: Fieldhouse Furniture
3. Leverage Smart Lighting
Well-designed lighting can dramatically enhance the appeal of BTR properties. Consider incorporating smart lighting systems that allow tenants to adjust settings remotely. This modern feature can be a significant selling point without substantially increasing costs. By implementing these strategies, BTR developers can create attractive, memorable spaces that stand out in the competitive rental market. Remember, the goal is to balance style and functionality within budget constraints.
Source: Ademchic
The BTR sector has shown resilience, with £4.5 billion invested in 2023 despite economic challenges. As the market continues to grow, thoughtful interior design will play an increasingly important role in attracting and retaining tenants.
For property developers looking to maximise their BTR investments, partnering with experienced interior designers who understand the unique needs of this sector can be invaluable. These professionals can help create spaces that not only appeal to tenants but also contribute to the long-term success of BTR projects in the UK housing market.
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