Author: Jonny Wootten

Up until the recent Build-to-Rent boom, BTR had typically catered to students and young professionals who were embarking on their careers. Fast forward a few years, and it’s the 25-34 year olds who now make up the most common demographic of residents, with an increasing percentage of 55-64 year olds living in BTR developments too. The current financial climate is likely to push this recent shift even further, increasing its wide-scale appeal, especially with hesitant first-time buyers. 

As the demographics of those living in BTR are changing, so too are the expectations and needs from their rented properties. 

Shifting priorities

Each BTR development is unique, offering residents a variety of amenities and services included in their monthly rent or as additional paid for services. Operators recognise the importance of having unique and varied spaces with an incredible array of facilities and services on offer to potential residents, from dining rooms and cinema rooms to rooftop spaces, communal gardens and dedicated wellness rooms. With shifting demographics however, it may be wise to keep options open and create more flexible, multi-purpose amenity spaces to allow residents to decide for themselves how to use these areas.

As well as high-quality amenities and facilities, research has revealed that one of the biggest priorities for renters is having the latest connectivity options when. According to a survey of 500 residents and 200 apartment operators conducted by DISH Business, 81% of property owners and managers indicated that technology services were important in keeping residents satisfied, while 67% agreed that they could do more to provide the highest level of technology to their residents.

Connectivity done right 

A 2019 report from Wiredscore, ‘Poor Foundations: the state of UK residential connectivity’, claims two-thirds of developers can rent their well-connected properties at a higher price and possibly with a greater yield. Two-fifths – 40% – of developers have seen an increase in demand for their properties, while more than half – 56% – stating they can rent their properties for longer, due to the improved in-home experience. 

Managed internet service providers, such as ASK4, can elevate a resident’s connectivity experience, which can then return in higher rates of retention. Traditional ISPs tend to have a number of limitations when it comes to connectivity in multi-tenant buildings. Firstly, the lack of a managed service layer, means monitoring and maintenance, as well as proactive improvements to the service are either not at the level that residents expect, or are simply missing altogether, resulting in a worse experience for both residents and on-site teams.

ASK4’s 4Network delivers seamless connectivity for an unlimited number of smart devices to provide a connectivity experience, just as you would expect in a traditional home setting. What’s more though, this network extends site-wide beyond the walls of a resident’s apartment, meaning that that smart devices in their own spaces can be operated while dining in the building’s cafe, or working out in the gym for instance. This helps residents to integrate into a building’s wider community and make those communal facilities feel part of their home. 

Building a community with connectivity 

BTR residents are drawn to the promise of a vibrant community within their building. Common areas designed for social interaction, such as communal lounges, rooftop gardens, and co-working spaces are highly valued. Latest ONS data has revealed that those aged between 16-29 are over twice as likely to report feeling lonely often or always than those over 70, so it’s no surprise that this years’ Who Lives in Build-to-Rent report found that social spaces were rated as one of the most important amenities to residents, along with a social calendar and events. These spaces foster a sense of belonging and provide opportunities for residents to connect, collaborate, and build meaningful relationships with their neighbours. 

However, residents do not suddenly become part of a community just because there are communal spaces, or someone has put up an event flyer on a noticeboard. Resident engagement portals like Spike Living play an increasingly important part. Through Spike Living, residents can connect with each other instantly, and the ‘what’s around me’ feature can highlight local shops and services, reducing the anxiety around moving to a new location. In addition to providing much-needed visibility to smaller businesses, encouraging residents to explore what’s on their doorsteps.

What’s more, Spike Living allows residents to create their own clubs and forums, enabling residents to find like-minded people who share similar interests. Whilst staff can share and promote in-house and local events, all helping to foster a sense of community. Developments that have implemented resident engagement portals have reported a 20% increase in resident participation in community events and initiatives in the first 3 months alone. 

Summary 

BTR residents are seeking more than just a place to live—they crave a comprehensive living experience that aligns with their values and connectivity needs, both digitally and physically. Developers and operators who understand and cater to these desires by providing adequate internet connectivity, community-focused spaces, and resident portals are poised to attract and retain a diverse range of residents. As the BTR sector continues to evolve, staying attuned to these preferences will be crucial for those aiming to create thriving, dynamic living communities. 

Spike is thrilled to be shortlisted for this year’s UK PropTech Awards in the ‘Social Impact’ category which celebrates companies leveraging technology solutions to positively benefit society and enhance people’s lives, whilst emphasising wellbeing and staff engagement in social impact interventions. This nomination stands as a testament to our commitment to creating thriving communities across the developments that use Spike.

Leveraging Technology for Social Change

Our award-winning resident engagement portal, Spike Living, provides a user-friendly platform that facilitates community engagement, social interaction, and placemaking, ensuring residents feel connected to their surroundings.

Recent statistics have revealed that the more friends a resident has within their building, the more likely they are to renew their tenancy. Without any friends living in their community, residents only have a 29% chance of renewing. That number jumps to 38% if they have 1-3 friends, and if they have 7 or more friends, there’s a 47% likelihood that they’ll renew. 

What’s more, it’s been reported that loneliness is up 40%, according to a report published by the Office for National Statistics. When residents first move into their new accommodation, it is likely that they will be unfamiliar with the surrounding area and may not have made friends or met many people. Through Spike Living, residents can effortlessly connect, discover local services, and initiate friendships, addressing the increasing issue of loneliness and the initial challenges residents face when settling into a new environment. 

Spike Living isn’t just limited to fostering friendships, it also acts as a central information hub. Residents and property management can digitally communicate to share information, access building manuals, as well as residents being able track their own energy consumption through our partnership with Utopi, contributing to a more environmentally conscious and efficient community. 

Ensuring Equality and Employee Wellbeing 

Spike’s commitment to social impact also extends internally. Spike prioritises a workplace culture where staff feel valued, respected, and have avenues to voice their concerns. The company actively nurtures a culture of inclusivity and employee wellbeing. Initiatives such as fostering a diverse work environment and celebrating cultural holidays have created a sense of belonging and respect among our staff. 

We also take pride in our gender-inclusive practices through participating in initiatives such as International Women’s Day and Men’s Mental Health Day. We’re proud to have built a cohesive work environment that encourages individuality and camaraderie. 

At the start of 2023, we also introduced a ‘Charity of the Year’ initiative, empowering employees to select a charity to support. By engaging in various fundraising events, beach clean-ups, through partnering with Dorset Mind, we not only support the chosen charity but also share wellness initiatives across our client communities. 

Recognition and Growth

Our commitment to our employees recently earned us a spot on The Sunday Times Best Places to Work in 2023 list, recognising organisations with the highest employee engagement and wellbeing levels.

We achieved an overall engagement score of 87%, 11% higher than the industry average. We also scored highly across the key categories for employee engagement and workplace happiness including reward and recognition, instilling pride, sharing information, employee wellbeing, and job satisfaction.

Summary

Spike’s solutions exemplify how technology can be harnessed to create thriving, interconnected communities. Our nomination for the UK PropTech Awards 2023 – Social Impact award is a testament to our unwavering commitment to social good and community building through innovative tech solutions, regardless of the outcome.  

To view the full shortlist of nominees for the UK PropTech Awards 2023, visit the official website here.

Homebuyers today have higher expectations regarding the quality of their homes. They also expect builders to address any issues promptly and provide excellent customer service. This ongoing relationship is vital for customer satisfaction and the reputation of the builder.

Housebuilders therefore need to adopt a customer-first mindset and focus on long-term relationships with buyers. With that mind, here’s how resident portals like Spike Living can play a part in enhancing communication and experience for owners and the benefits they can bring to housebuilders.

Simplifying the Snagging Process

Typically, the reporting of snagging issues is cumbersome and difficult for owners, with 45% of homeowners dissatisfied with the snagging process according to research by the Homeowners Alliance.  More often or not, owners use emails, WhatsApp messages or text messages to report issues. With sporadic messages and the use of different channels, this makes it difficult for housebuilders to keep track of what’s been submitted and even harder to keep owners updated on the progress. Not to mention making it almost impossible to track against SLAs and performance metrics for response times.  

Having a portal like Spike Living in place can speed up the reporting of issues in these instances, with owners able to quickly provide staff with a clear picture of the problem, and even attach photos so staff can diagnose the fault ahead of time. This increases the likelihood of fixing the issue in their first visit and reduces response times by 30%. Housebuilders can also benefit from Spike Living’s powerful reporting module, allowing them to spot any wider issues to do with material defectives or poor workmanship such as faulty taps or leaking showers. 

Sharing of Documentation 

When a new owner moves into a property, they are often confronted with mountains of paperwork which can easily get misplaced or mislaid. By using a resident portal like Spike Living key homeowner documentation such as policies, certifications and appliance guides can be digitalised and shared directly and securely with owners. This helps reduce the amount of printed paperwork and provides an easy way for owners to keep up to date with the latest versions. 

Housebuilders can also share Frequently Asked Questions, providing useful information for homeowners such as where to find the stopcock or bin collection days. Having all this information readily accessible means that more often or not, owners can find the information they need themselves, whenever they need it. 

Focus on Long-Term Relationships

It can be hard for housebuilders to maintain connections with owners once they move into a property. Resident portals like Spike Living enables housebuilders to continue a dialogue long after owners have moved in. This allows them to nurture the relationship and start to promote other developments that they are building or have launched, ensuring that if there is a future need for the owner to upsize, downsize or relocate, then they are more likely to consider your development over others.  

What’s more, Spike’s partnership with HomeViews allows owners to share their experience and leave feedback about the housebuilder and what it’s like living in a particular development. With research revealing that 95% of today’s consumers read reviews before they make a purchase, having positive feedback from owners can go a long way in promoting the development.

Facilitating Community Engagement

Unlike high-rise developments where people naturally meet in lobbies or lifts, with traditional housing developments there is limited or no communal space which can make it difficult for neighbours to get to know one another. Therefore, it’s no surprise that loneliness can be more of a problem for newcomers moving into houses.

Resident portals like Spike Living provide ways for these owners to meet their neighbours in the virtual world first, via various online clubs and forums, then organise real-life events if they so wish. This can be especially helpful for young parents who may feel isolated. This digital community-building enhances the sense of belonging, encouraging owners to become active participants in shaping their communities.

Resident portals also serve as a virtual town square, allowing owners to voice their opinions and preferences regarding local initiatives. This can make communication between owners, housebuilders, and local authorities much more transparent, helping to build trust and ensuring that residents are informed about ongoing placemaking projects. 

In addition, the ‘what’s around me’ feature in Spike Living can highlight local shops and services, reducing the anxiety around moving to a new location and provide much-needed visibility to smaller businesses, encouraging owners to explore what’s on their doorsteps. Housebuilders can also partner with local retailers to offer owners exclusive discounts and incentives, all promoted via their residents’ portal.

Spike in Action

Spike recently worked with Baxter Homes to roll out a resident engagement portal across their developments. By utilising Spike Living this has enabled Baxter to streamline its approach to customer service and reduce its reliance on paper-based systems. By providing its purchasers with a one-stop app, owners are able to easily and quickly report defects and snagging issues, access key information in a centralised and secure place, receive important updates from across the development, as well as communicate directly with the aftercare team.

Owners also have access to an interactive social hub where they can get to know their new neighbours and the local area, helping them to settle in much quicker. 

Summary

Resident portals offer numerous advantages to housebuilders by improving communication, enhancing operational efficiency, and increasing owner satisfaction. For homeowners, it can help take away the stress in what is often considered one of the most stressful experiences in a person’s life, allowing them to meet their neighbours more easily and helping them to settle in much quicker. 

Placemaking has transformed from a mere buzzword to an indispensable strategy for creating thriving and sustainable communities. In a dynamic landscape where supply and demand continually shape the real estate sector, it’s more than constructing buildings; it’s about creating environments that foster a sense of belonging, identity, and community. “We shape buildings”, Winston Churchill once argued, “and then, they shape us”.

The Significance of Placemaking

All too often placemaking is viewed as a luxury, something nice but not essential to a development’s success. Recent praise from Housing Secretary Michael Gove regarding a new checklist that rates the placemaking quality of developments underlines the growing importance of this concept. The reality is, placemaking can generate a big return on investment. 

A well-designed, community-focused development makes it more likely that potential residents will not only choose a development over others but also remain living there. According to a survey conducted by the National Multifamily Housing Council, communities with strong placemaking initiatives saw a 7% increase in resident retention rates. 

Furthermore, developments with thriving communal spaces, and a strong sense of identity tend to increase in value more rapidly than those lacking these elements. As property values increase, both investors and residents can benefit. The Urban Land Institute reported that residential properties located within walking distance of well-designed public spaces and amenities can command up to 20% higher rental and sales prices. 

How Resident Portals Facilitate Placemaking

In the digital age, technology has emerged as a powerful tool to facilitate placemaking. Here’s how resident portals play a pivotal role in creating vibrant communities. 

Fostering Community Connection

Placemaking often involves community events and gatherings. Resident portals can help in organising and promoting these events, making it easier for residents to participate. Developments that have implemented resident engagement portals have reported a 20% increase in resident participation in community events and initiatives.

Resident portals also provide residents with a central place to connect with their neighbours, share experiences, and organise events or activities. This digital community-building enhances the sense of belonging, encouraging residents to become active participants in shaping their communities. 

What’s more, latest ONS data has revealed that those aged between 16-29 are over twice as likely to report feeling lonely often or always than those over 70.  Having solutions like Spike Living in place allows residents to easily connect and find others in their local community that share similar interests and hobbies. 

Resident portals also serve as a virtual town square, allowing residents to voice their opinions and preferences regarding local initiatives. This can make communication between residents, property management, and local authorities much more transparent, helping to build trust and ensuring that residents are informed about ongoing placemaking projects. 

Simplifying Communication

Effective communication is crucial in maintaining a thriving community. Resident portals make it easier for residents to report issues, request maintenance, and receive updates on community news, as well as be kept informed about safety policies and important information, creating a more responsive living experience.

Research by Zego found that developments that use resident engagement portals experience a 30% reduction in response times for maintenance requests, leading to higher resident satisfaction. 

Spike Living acts as a central communication hub, boasting a multitude of ways to enhance communication in developments, whether it’s messaging between staff and residents, or serving as an exclusive and safe form of social media, with residents getting to know their neighbours through a mobile app. 

Access to Amenities and Services

Through resident portals, residents can access information about local amenities and services. This information empowers residents to explore and make the most of their community. Developments that have resident portals in place have reported a 25% increase in amenity utilisation, leading to higher resident satisfaction.
 
Spike Living serves as a gateway to a range of amenities and services within the community. Residents can easily book facilities, find local businesses, and access exclusive offers, all from the palm of their hands, enhancing their overall living experience. 

Achieve ESG and Sustainability Goals

Sustainability is a key aspect of modern placemaking. Recent research into what modern renters and homeowners want from their living environment found that 80% of respondents said it was important that their home has sustainability credentials when considering a new place to live.

Resident portals like Spike Living can connect residents with other like-minded neighbours via various online clubs and forums. Creating a place where residents can share their own useful tips, and organise their own community events such as neighbourhood clean-ups or volunteer days, helps to instil a sense of togetherness and collective focus.  

Research by Spike, ASK4 and Utopi found that investing in developing a community not only enhances the resident experience – it can also lead to better outcomes. Residents are more likely to behave in a way that benefits the collective good if they feel an attachment to the people, place, and community in which they live, something that resident portals can help with.

Summary

Placemaking is a dynamic process that goes beyond traditional urban planning. It involves the active participation of residents, a commitment to cultural identity, and a focus on creating safe, sustainable, and inviting spaces. Resident portals such as Spike Living serve as a valuable tool in this process, enabling community engagement, transparency, and information sharing. As the real estate industry continues to evolve, those who prioritise placemaking and invest in their communities will undoubtedly come out ahead. 

Given both the current housing crisis and tough economic climate, as well as the shift towards more sustainable practices, the real estate sector now more than ever needs solutions to meet this challenging environment. What’s more, buildings with better sustainability credentials are achieving markedly higher capital values and rents according to recent research by JLL.

Here’s how Spike Living, Spike’s award-winning tenant portal, can help investors, developers, operators, and property managers alike reduce operational costs, exceed ESG obligations and enhance the tenant experience.

Reduce Operational Costs and Enhance Operational Efficiency

Streamline Maintenance Reporting

One of the most time-consuming parts of a property manager’s job is the handling of maintenance issues, with minor issues turning into major ones if they aren’t dealt with quickly and efficiently. 

Spike Living speeds up communication in these instances and allows tenants to quickly provide your staff with a clear idea of the task ahead. Tenants are even able to attach photos of the issue giving your maintenance staff the opportunity to diagnose the fault ahead of time and increasing the likelihood of fixing the issue on their first visit.

Automate the Booking Process

With onsite amenity spaces becoming the new norm in developments, having an easy way for tenants to book and interact with these spaces without requiring staff interaction increases the probability of them being used.

By enabling tenants to book a meeting room, gym slot, cinema space or sign up for a class or event via the Spike Living tenant app, this turns what could be an archaic process into a seamless experience, encouraging tenants to spend more time enjoying the spaces and freeing up staff.

Securely Manage Documentation

Important documentation like signed contracts, health and safety policies, welcome packs and instruction manuals can be stored digitally and securely within Spike Living.

This makes contracts and vital information easily accessible, with notifications able to be sent to tenants whenever there are newer versions needing to be reviewed and acknowledged, allowing for full traceability.

Simplify Parcel Management

Having an easy and efficient way to manage deliveries is becoming increasingly important as global online retail sales are expected to reach £515 trillion by 2023, with the growing volume of packages now being delivered to homes.

By using Spike Living, staff scan packages as they arrive which will then send a notification to the relevant tenant informing them that a package is ready to be collected. This saves staff from having to manually message tenants individually, reducing parcel processing time by up to 75%.  

Drive Energy Efficiency and Sustainability

Energy Monitoring

Spike has partnered with Utopi to enable tenants to view their own energy usage and track their progress towards reducing their consumption in the Spike Living portal. Examples include the amount of energy used compared with others living in a similar-sized apartment, the amount of carbon used, or how much energy is saved by turning the heating down by one click.

This transparency encourages tenants to adopt more sustainable behaviours, with research showing that this can reduce carbon emissions by up to 35%.

Investors, developers, and operators are also able to use this data to set targets for reduction in consumption and spot outliers and poor-performing tenants, allowing managers to offer advice and support, as well as highlight potential maintenance issues.

ESG Reporting

Spike Living not only provides tenants with a centralised platform to access information about their building and communicate with management but also provides an opportunity for operators to report on their own impact and the initiatives they are undertaking, such as switching to environmentally friendly cleaning products, replacing communal lights to use energy-efficient light bulbs, as well as openly responding to feedback from tenants.

Spike Living enables staff to share and promote information about local recycling programs, green transportation options, and energy-saving tips directly with tenants. By providing easy access to this information, tenants become more informed and inspired to act.

Create Positive Social Impact and Community Building

Community Engagement

Spike Living allows operators and property managers to promote in-house and local events, as well as encourage tenants to get to know one another over via online clubs and forums, all helping to foster a sense of community among tenants. This can lead to better relationships, improved tenant satisfaction, and importantly promotes tenancy renewals reducing voids and saving operators turnover costs.

What’s more many of Spike’s clients team up with local businesses to offer exclusive discounts to their tenants on anything from cleaning services and dog walkers to local bars and restaurants. All of these added-value services can be promoted and driven through Spike Living.

Partner with Spike

By embracing technology solutions like Spike Living investors and operators can reduce operational costs by empowering staff to be more efficient, whilst at the same time enhancing the tenant experience by providing greater transparency and ease of access to information and amenities, helping to create thriving communities.

Book a demo today to learn how Spike Living can reduce your operating costs and exceed ESG obligations.