Gardens and Wifi on offer to attract rent-for-life tenants

♦ “Rent for life” flats where tenants can paint the walls and decorate to their tastes are on the rise in the UK.

A new wave of “built to rent” homes are affording residents freedoms that are usually banned in rented accommodation, such as keeping pets, hanging their own pictures and painting their walls in bright colours.

These purpose-built rental homes are offering luxurious extras such as rooftop gardens, free Wifi and other benefits to attract tenants. Such properties are built and managed by large pension funds which want to attract long-term tenants, who will stay in the same place for many years.

There are about 70,000 built-to-rent homes in the UK but the number is growing fast. A survey by Knight Frank, the property consultancy, found that large investors planned to commit £50billion to the sector by 2020.