Student accommodation
Build to rent
Build to rent (BTR) is the development of residential buildings designed from the outset to be let rather than sold flat by flat: an institutional owner keeps them and a professional operator runs them. In Spain it is also called promoción para alquiler or residencial en alquiler.
Also known asBTR · build-to-rent · purpose-built rental housing · promoción para alquiler
What it is, exactly
It is a way of financing and of managing, not a type of building. A single owner lets it out for years, with services and its own team, instead of dividing it up and selling it; income comes from rents rather than from the sale, and the scheme is designed with whoever will run it in mind: shared areas, maintenance, tenant turnover. The term took hold in the United Kingdom, where it is seen as the newest form of private renting.
Within that logic there is room for different products depending on who lives in them: PBSA for students, coliving with private rooms and shared areas, flex living for stays of a few months, and classic residential lettings for households that stay.
Worth knowing
It is not a legal category in Spain. What is signed with each tenant is still a contract under the Urban Leases Act. If the tenant meets their habitual housing need there, it is a residential lease, and since the landlord of a build-to-rent scheme is usually a legal person, the compulsory extension runs up to seven years of contract, unless the tenant decides not to renew (art. 9.1).
Sources
Related terms
- PBSAPBSA (purpose-built student accommodation) is a student residence built or refurbished for that use and run by a private operator, with rooms or studios, shared areas and services. The term comes from the British market, and in Spain it is used mainly by investors and operators.
- ColivingA coliving is a building of private rooms or studios with a shared kitchen, lounge and work areas, run by an operator with services included and a community life. It is aimed mainly at young professionals and stays of several months. In Spain it has no national law of its own.
- Flex livingFlex living is furnished, serviced accommodation that an operator lets for stays of variable length, from weeks to months, in complete flats or in rooms with shared areas. It sits between coliving, the traditional residential let and the serviced apartment.