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Three year tenancies, pets welcome - major landlord’s initiative

The UK’s largest listed provider of private rental homes, Grainger, is proposing pet-friendly ‘stay as long as you like up to three years’ tenancies in one of its new Build To Rent developments.

The scheme - Weaver’s Yard - is the first BTR development in Newbury and will deliver some 232 homes in two phases, with the first phase available for occupation this spring. 

Full completion of all buildings and homes is anticipated in April 2023.

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The first homes at Weaver’s Yard offers a mix of properties, including one and two-bedroom apartments, along with two-bedroom duplexes.

Early occupants will have superfast fibre broadband and a dedicated on-site team to support residents. As the remainder of the development completes, residents will further benefit from access to a lounge area, co-working space and a bookable meeting room.

All of these facilities are included in the rent which starts for the smallest units at £1,050 pcm.

Based on the theme of knitting and weaving stitches, the individual buildings within Weavers Yard have been named: Purl House, Bamboo House, Garter House, Farrow House, Herringbone House, and Cable House, with Bamboo House and Purl House the first two to launch in phase one.

 

Helen Gordon, chief executive at Grainger, says: “Weavers Yard is a great new addition to our Build to Rent portfolio, and our first development in Newbury. We are really looking forward to … introducing renters in Newbury to a new style of renting, focused on high quality homes and excellent customer service.

“Through our events programme, our dedicated resident services team will dedicate time to building an exciting new community for residents in this fantastic central location”.

Gordon says the BTR sector in there UK is emerging fast and establishing itself as a good housing option for thousands of renters, answering to the strong demand for high-quality, well-managed rental housing. 

Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.

  • George Dawes

    If they pay 3 years up front and say another 6 months for potential pet damage , fair enough

    Otherwise, what do you think we are , a charity ?

    Graham Davidson

    Don’t see anywhere in the article where they were asking you to do it

     
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    I'd happily pay rent up front but with the number of landlords bailing and going bankrupt I'd be worried it lose my money

     
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    Landlords going bankrupt Brian ? where, that's news to me, many are selling up mainly due to EPC 'C'

     
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    Benefit tenants welcome?

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    Not when LHA is £673 and rent starts at £1050pcm!

     
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    Its good that they are providing more housing - we need it - but it doesn't look to be 'affordable' which is what we desperately need.

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    "The btr plan is part of a town centre refurb, that includes a cinema and the council hq gets extra parking" (with netflix and working from home the norm, this project may be out of date by the time it gets built?)

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    ‘stay as long as you like up to three years’ tenancies. Personally my tenants can stay as long as they like as long as they
    1. Pay the rent
    2. Look after the property
    3. Report minor problems before they become major problems
    I don’t get rid of GOOD tenants I don’t want my properties EMPTY as they don’t generate any income. All my tenants have been in for over 10 years.

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    Likewise, we have tenancies running into teens of years.

     
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    Stephen. Stay as long as they like which is the current situation in the main where most Landlords are concerned. However the main point can’t be ignored, it’s stay as long as you like as per Assured Shorty Tenancy Contract or extending Periodic period by mutual consent.
    That’s totally different altogether to the proposal of stay by right by of Tenant to the exclusion of the owners, no right to control of his property.

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    Assured Shorthold , (phone changes it own way).

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    Michael, you can edit posts to correct autocorrect and other fails.

     
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    So they are all flats starting at £1050 per month, not a suitable home for a dog or children then

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    I have always thought that BTR was the preserve of the premium market. A search for 1 bed flats in Newbury on Rightmove shows that most properties are between £650 and £850, with the top 3 out of 20 being £925, £1100 and £1125. No prizes for guessing which one is owned by Grainger. No wonder they want to offer 3 year tenancies - at that price, you are only going to get gold-plated and gold encrusted tenants!

  • Matthew Payne

    I think most landlords would happily rent to tenants with pets if they were prepared to pay a 50-75% uplift on the rent. It would appear not even the "pet friendly" Grainger is prepared to take leap of faith on the well behaved pet argument without some serious wedge on the table to cover their risk.

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    £1,050 pm for the smallest unit? Affordable housing then.

    I don't see the point of 3 year tenancies. All my tenants had 6 month tenancies and some are still there after 10 years. If they pay the rent and look after the property they can stay as long as they like.

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    If a tenant wrecks the property and stops paying the rent within the first few months, can they still stay for 3 years? ....asking for a friend...

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    Shelter will do their best to help your friend do exactly that, but eventually your friend will end up on the street with a trashed credit rating and no chance of ever renting anything decent again - but Shelter will then blame evil Landlords and not your friend!

     
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    Many of those Build 2 Rent Companies were born on the back of the 2004 Housing Act. So now they are all high & mighty and want 3 years
    Tenancies, obviously we all do want stable Renting but not imposed long term Contracts as of a right. I remember those type of Companies as being no strangers to the Auction Rooms where many of them are coming from wheeling & dealing on the back of Section 21 in recent decades without which they couldn’t have done it. Now I’m alright Jack I’ll on a different level and can do this forget about my roots.
    Many Tenants only want 6 months or a year are you saying it has to be a 3 year minimum Contract or are you saying they Tenants can walk at any time they like, in which case 3 year Contracts are irrelevant, please clarify.

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    Looks like the 2 bed ones are around £1,500 pcm. And that's unfurnished.

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    It doesn't look like this will be any competition to the majority of small to medium portfolio landlords who provide good, reasonably priced properties, many houses with gardens which is what most family renters want.

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    It's s government friendly publicity stunt.

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