Renting often receives a bad reputation when rogue landlords or managing agents are involved, and tenants don't receive value for money.

But a new development in North London in the UK hopes to redress the balance, offering tenants homes in purpose-built rental blocks of flats that include a host of benefits.

These include the utilities bills and broadband in the price, no deposit, and a concierge.

Other factors that may appeal to tenants include being able to bring your pet along to live with you - although you'd need to pay an extra amount every month for doing so, with costs varying from £50 ($95.66) a month for a dog, £30 a month for a cat or £50 a month for two cats.

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The development is a so-called "Build-to-Rent" one, made for the sole purpose of renting out the flats. None of the properties are available to buy on a Build-to-Rent site.

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The Build-to-Rent development in Wembley, North London.

A Build-to-Rent development also tends to be only managed by one single landlord, although developers can sell part of the site to another landlord.

It is thought that Build-to-Rent may one day fill the void in available rental properties that has been left by landlords quitting the sector following a raft of regulatory and tax changes they have endured.

The Build-to-Rent scheme in Wembley Park is being built by Quintain and then managed by its subsidiary Tipi, which describes itself as a "mid-market option" for tenants.

Tipi is only active in Wembley Park at present, with the first buildings on the site opened in early 2016.

It makes no apologies for the standard of its facilities and that it charges a premium for having them.

This includes an app enabling tenants to choose for their flat to be cleaned at the touch of a button.

Communal lounge areas close to the entrance come with kitchenettes and Sky television, while there is even a gym and screening room.

Rental prices range from £1450 ($2774) a month for a studio to £1590 a month for a one-bedroom flat. A two-bedroom covering costs £1900 and a three bed costs £2641.

The average monthly rent for a one-bedroom flat in North London is £1237; £1588 for a two-bedroom; £2033 for a three-bedroom flat.

Who can afford to rent the flats?

Tipi claims that its typical tenant has an annual salary of £40,000 ($76,000).

It is perhaps unsurprising therefore that Tipi also acknowledges that most flats are shared, as it would be virtually impossible to afford any but the smallest flats on this single salary.

It means the average household income for just two people sharing would be £80,000.

The developer is planning on demand for shared rental homes rising in this part of the capital, with 550 flats already completed and a total of 5000 being built at its Wembley Park site by 2027.

What does Tipi charge for at the end of a tenancy?

An inventory is carried out at the start of the tenancy and residents are asked to leave the properties "domestically clean" on departure, meaning it does not insist on a professional deep clean to be paid for.

There is no deposit paid at the start of the tenancy and residents are required to pay for any damage they cause that is beyond wear and tear.

Tipi says there is a fine line between what is considered to be damage or not.

Generally speaking, it told us that it will not charge for small scratches or marks on the walls, and if there is a large stain in the middle of a carpet, then it will ask for a contribution rather than the full cost of replacing it.

Rajesh Shah, managing director of Tipi, said: "Damage has to be clarified as 'beyond reasonable wear and tear'."

- Daily Mail


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