2 min read 27 Sep 21
How well our living set up works for us can impact our level of fulfilment, we believe; from the comfort and suitability of our surroundings, to our connection with neighbours and communities.
Spending more time at home, has honed tenants’ focus on what they want from their living space. Access to outside space, whether balconies or shared gardens, has been a lifeline through lockdowns. The ability to work in a dedicated zone has also had a profound effect on peoples’ frame of mind. We believe that a home that meets tenants’ current needs, at an attainable cost, is therefore central to their wellbeing.
Tenants increasingly expect high-standard amenities wrapped in with their space, such as private gyms; equipped working areas; parcel drop-off points; and use of electric vehicles. Increased focus on experiences continues to build the appeal of elements that contribute to a vibrant environment. These can include yoga studios; cinema rooms; spaces in which tenants can host friends; and roof terraces where residents can play games.
The way that a place makes us feel can impact our wellbeing, just as natural daylight is known to improve our health and productivity. Buildings’ design is fundamental in this. However, we believe that our feeling of connection to our environment plays a key role.
Tenants’ integration within a scheme is often linked to the relationships that they build, which can be cultivated through shared spaces and tailored on-site events. The value of community is also growing in recognition among tenants, highlighted by the rally of support for vulnerable people by residents and site staff, during the pandemic.
Proactive engagement with tenants, and work to support communities, can help to create a positive environment, in our view. This can be fulfilled through digital tools that promote mental health charities and local businesses; by sponsoring local charities chosen by residents; or by delivering responsible initiatives and potential cost savings that are important to tenants.
Taking this one step further, we believe that asset managers can bring energy to buildings by encouraging inclusivity within communities. Commissioning local graffiti artists, for example, can make for inspiring spaces. Working with local councils to help implement their vision for the regeneration of an area, can also have a positive knock-on effect on tenants.
We believe that there is untapped potential for asset managers to make a positive difference to tenants’ wellbeing. By embracing tenants’ evolving practical and social needs, property providers can create homes that tenants feel invested in, across the living spectrum. We believe that this approach could drive innovation in the sector, in turn, creating better places to live, where tenants want to stay for longer.
The value and income from a fund’s assets will go down as well as up. This will cause the value of your investment to fall as well as rise and you may get back less than you originally invested. The views expressed in this document should not be taken as a recommendation, advice or forecast.