UK: The Association for Rental Living [ARL] has teamed up with short-term rental booking platform, partner and ARL member, TrustedStays, to publish two new in-depth explorations of resident hosting.
Resident hosting refers to the short-term renting model where tenants rent out their homes with permission from their landlord / building owner. Permission for this is usually covered by a clause in the tenant’s rental agreement.
According to the ARL, the model has now matured to the point that not offering options for tenants around length of stay now poses a risk to build-to-rent [BTR] long-term rental portfolios. That risk, alongside the 10 – 20 per cent incremental net yields that resident hosting can deliver, is proving to be a major driver for change.
The two new publications are:
- Resident Hosting: The solution to unapproved short-term rentals in your development
- Resident Hosting: The pros and cons of each model
As discussed in the articles, each model has its pros and cons.
BTR operators who embrace resident hosting are turning the risk of unapproved short-term rentals in their buildings into a revenue-generating opportunity. There are various models they can adopt to do this, with management of the short-term stays undertaken by the tenant, the building operator or a third-party property management company.
The maturing resident hosting market and the evolution of BTR from various angles, including the emerging role of short-term stays as a solution to the Renters’ Rights Bill, will be addressed at the ARL Annual BTR Conference on 7 November.
As the recognised membership body for the BTR sector, and its subsectors, the ARL represents all institutionally backed, professionally managed purpose-built rental living sectors including urban and suburban single-family and multi-family rental, coliving and later living.
Over 360 organisations across the rental living sector ecosystem belong to the ARL membership, reaching 5,400 professionals. Its mission is to set and raise standards across the BTR sector, as demonstrated by its BTR Code of Practice.
