In this episode of Pillow Talk Sessions, hosts Jessica Gillingham and Kristian Lupinski sit down with Mitch Hammond, Build-to-Rent Manager at OnTheMarket, to demystify the Build-to-Rent (BTR) sector and explore strategies for navigating this evolving market.
Mitch, who transitioned from a performing arts background to property management, shares his journey and passion for BTR. He emphasizes the importance of a unified understanding of BTR terminology, noting the complexities of defining the sector in the UK compared to the US multifamily market. Mitch suggests adopting the term “built for rental living” to encompass the broad spectrum of offerings, from co-living to single-family housing, and draws parallels to how the hospitality industry uses clear distinctions like hotels and self-catering accommodations.
A key theme of the conversation is the delicate balance between integrating technology and preserving human connection in resident services. While technology can streamline processes such as tenancy agreements and communication via apps, Mitch argues that it should enhance, not replace, on-site staff. He highlights how leveraging technology for operational efficiencies can free up staff to focus on community building and personalized resident experiences.
The episode also delves into shifting resident expectations, with an increased focus on security, multifunctional spaces, and thoughtful amenity planning. Mitch underscores the need for thorough research into demographics and community needs before implementing amenities, advocating for a balanced approach to avoid underused or costly features like swimming pools and saunas.
Brand differentiation is another critical topic, particularly as OnTheMarket prepares for new opportunities under the CoStar Group’s ownership and the European launch of homes.com. Mitch discusses how effective branding within the competitive BTR market can help create a strong, recognizable asset class that resonates with potential renters.
Looking ahead, Mitch shares his vision for how the BTR sector can continue to evolve, blending technological innovation with a steadfast commitment to human-centric service.
