Short lets in Build To Rent schemes thanks to PropTech deal

Build To Rent operator Apo is partnering with PropTech platform Lavanda to offer increased exposure to Airbnb-style short-lets.

The partnership will see Apo deploying Lavanda technology across its UK portfolio. Apo operate over 1,600 homes in the UK and plans to hit 10,000 homes within the next five years.

The latest development to launch is Apo at The Copper House, Liverpool, where residents have the opportunity to book short/mid-term stays alongside more traditional long-term rentals of 12 months or more. As well as offering greater flexibility, this also gives prospective long-term residents the opportunity to try out an apartment before they commit to a longer-term tenancy.

Matt Finch of Apo Group Ltd comments: “We strive to deliver quality, modern lifestyle experiences, and in order to do that we need to deliver a flexible rental model that aligns with the needs of the modern resident who often doesn’t want to be tied down to a traditional long-term lease.  

“Short and mid-term stays offer significantly enhanced flexibility to our residents whilst also driving up Net Operating Income for the building and supporting the core model of long stays. Our partnership with Lavanda enables us to offer better consumer choice and deliver on our promise of offering flexible, convenient, contemporary urban living.

“With the flexible leasing model that has been implemented, we are able to remain incredibly agile, no two properties perform in the same way and with the Lavanda platform we can react to seasonality and weather economic conditions by dialling up the number of short-mid stay units within our buildings.”

And Lavanda chief executive Fred Lerche-Lerchenborg adds: “We are delighted to be working with Apo their desire to offer a more flexible way of living to their residents, their adoption of short-mid and long stay strategies is exactly what Lavanda has been designed to do. It is exciting to see them put so much emphasis on offering flexibility and I look forward to seeing the impact on the success of their growing portfolio.”