I was speaking to my friend a couple of weeks ago, and I used the term 'single-family home'. He had absolutely no idea what I was talking about—and he's not the only one. Here's my thinking.
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As institutional investment continues to reshape the UK rental market, the language used to describe its growing sub-sectors is becoming increasingly inconsistent — and increasingly confusing. Much of the terminology in circulation today has been imported from investors and fund managers in the US.
Now, as a marketer, I'm wondering why we are letting the people who came up with 'Collateralised Debt Obligation' name things? It might work perfectly well in their world, but for the end-user – the resident – it means nothing. So, if you want to raise the profile of institutionally owned rental properties, you need a naming convention that works for everyone.
I, Shaun, believe 'Professionally Managed' is the term that works. Something that wraps new build and old private stock, which is now owned by institutional funds/owners.
PMR - Professionally Managed Rentals
Umbrella term to wrap up institutionally owned / managed units
PMH - Professionally Managed Home
Houses / homes
One front door
Includes new builds and old homes acquired.
“I’m going to be renting a professionally managed home”, said the resident
“We manage professionally managed homes”, said the third-party operator
“We provide professionally managed homes,” said the institutional owner
“We’re allowing for more professionally managed homes to be built”, said the Housing Minister.
PMA - Professionally Managed Apartment
Apartments / flats / Co-Living
Two front doors (One door is the entrance to the building, the other door is the entry to the unit)
“I live in a professionally managed apartment”, said the resident
“We manage…”, and so on.
Purpose-built PMH / Purpose-built PMA
Sub-categorise new build developments if needed.
Specially curated space for renting / community
“Our award-winning PBPMH…”
I have no evidence to back this up, but I think buy-to-let and stories of dodgy owners have somewhat tainted the feeling around rental properties, and, in my mind, the naming convention 'build-to-rent' is caught up in it. Professionally Managed gives the industry a clean break. It’s something people understand. It’s something people want.
Original thread below:
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