The portfolio has a wide variety of homes, built to exacting standards and a range of designs. They cater for people at all stages of life, from young professionals and couples to families and downsizers.
Since our homes have been built to certain designs and specifications, long-term maintenance costs are easier to predict and to manage. We aim to set market-beating standards of care.
All the PRS REIT’s homes are let on Assured Shorthold Tenancies (as defined in the Housing Act 1988) to qualifying tenants. All homes are let though Sigma’s consumer facing rental brand, Simple Life.
The PRS REIT’s growing portfolio of homes places it at the forefront of the build-to-rent sector, and the Company remains the only quoted REIT to focus exclusively on the Private Rented Sector in the UK, and the first to focus on family homes.
The PRS REIT’s Investment Adviser and Development Manager act under contract to source investment opportunities, manage the construction and delivery processes, and manage completed assets thereafter.
Properties are developed on fixed-price design and build contracts, and house types are from house builders’ standard ranges, which makes the costs of maintenance more efficient and predictable. Homes come with the benefit of 10-year National House Building Council or equivalent warranties.
Construction work on any development site is phased which allows for marketing to commence in advance of completion so that as tranches of homes complete, they can be occupied while work continues elsewhere on the site. This means that development sites are capable of becoming income-generating relatively quickly and before they are fully completed.
The PRS REIT’s portfolio is geographically diverse, including sites in the North West, the Midlands, Yorkshire, the North East and South of England.