The PRS Guidebook is a compendium of knowledge about planning and designing Built-to-Rent. The publication guides you step by step through the stages of PRS project implementation - from the initial planning phase, through key design aspects, implementation and interior design, to the operational management. For this reason, it is an indispensable source of knowledge for investors and developers co-creating the emerging institutional rental market in Poland.
The PRS guide was created at a unique moment for the Polish professional rental market. Over the next 5-7 years, its housing stock will increase at least a dozen times. The growth rate exceeded our expectations, and entities operating in Poland often lack knowledge of the basic elements of the institutional rental market (Private Rented Sector - PRS).
The handbook was written by the ThinkCo experts team in cooperation with designers from the Decoroom studio. The strategic partners of the Guide include Geberit, Grohe, IKEA, Porta, Samsung, Tarkett and Tubądzin.
The scale and profile of the professional rental market in Poland
Investments in the Polish PRS market in 2020 totaled PLN 870 million. However, only in the first half of 2021, transactions in this sector already exceeded PLN 2.2 billion. This will soon translate into a sharp increase in the size of the housing stock offered under institutional rental. Currently, it amounts to less than 7,300 apartments, but as much as 25,000 dwellings are at the stage of construction. If the already announced investment plans are implemented, the number of PRS apartments will increase to over 90 thousand within seven years.
From the investors' point of view, the PRS market in Poland is perceived as attractive since there is less competition than in Western Europe, the costs are relatively lower, and the level of return on investments - higher. Foreign investment funds play a crucial role. Until now, activities in the PRS sector were based on the purchases of the existing residential stock, as well as forward-purchase and forward-funding transactions. The cooperation between PRS investors and developers takes various forms.
Planning
The Guide highlights and explains the key elements of a PRS product strategy. Long before starting the investment, it is important to get to know the profile of tenants as well as the offer and plans of the competition. In the publication, we remind that the strategy should include both fixed elements, such as location and architecture, as well as more flexible ones - including the brand image. We describe a long-term cost strategy, rules of pricing and many others.
Design
The Polish market is maturing to the point where selected projects are designed from the very beginning to serve as PRS apartments. We describe a good design process that includes care for durability, functionality, cost savings and many more. The publication emphasizes how zoning allows for an appropriate distribution of functions, what are the most common types of housing and what environmental and social responsibility really is - and how to measure it. We do not forget about the adaptability of architecture and advise how to take care of aesthetics
Execution
In this section, the PRS Guide focuses on the specifics for achieving a high quality end result. We advise what materials to use, what installations to introduce and what furniture to choose. Apartments for long-term rental are to serve for many years, so we pay extra attention to possible breakdowns and servicing. The publication guides through the various parts of the facility and the apartment rooms, pointing to good practices and detailed solutions.
Management
Proper design and execution is only half the battle - managing a PRS facility is a long-term task. Therefore, the last part of the PRS Guide focuses on the operational aspect of the running project. We indicate many elements related to management, explain the importance of service quality and introduce the social aspect of the project. An apartment for rent becomes a service - its attractiveness should be taken care of on an ongoing basis. Therefore we pay a lot of attention to amenities for residents, including technological facilities.
Przewodnik po PRS to kompendium wiedzy o projektowaniu budynków z mieszkaniami na wynajem. Przewodnik prowadzi krok po kroku po etapach realizacji projektów PRS – od początkowej fazy planowania, poprzez kluczowe aspekty projektowe, realizację i wyposażenie wnętrz, aż po operacyjne zarządzanie inwestycją.
The PRS guide was created at a unique moment for the Polish professional rental market. Over the next 5-7 years, its housing stock will increase at least a dozen times. The growth rate exceeded our expectations, and entities operating in Poland often lack knowledge of the basic elements of the institutional rental market (Private Rented Sector - PRS).
The handbook was written by the ThinkCo experts team in cooperation with designers from the Decoroom studio. The strategic partners of the Guide include Geberit, Grohe, IKEA, Porta, Samsung, Tarkett and Tubądzin.
The scale and profile of the professional rental market in Poland
Investments in the Polish PRS market in 2020 totaled PLN 870 million. However, only in the first half of 2021, transactions in this sector already exceeded PLN 2.2 billion. This will soon translate into a sharp increase in the size of the housing stock offered under institutional rental. Currently, it amounts to less than 7,300 apartments, but as much as 25,000 dwellings are at the stage of construction. If the already announced investment plans are implemented, the number of PRS apartments will increase to over 90 thousand within seven years.
From the investors' point of view, the PRS market in Poland is perceived as attractive since there is less competition than in Western Europe, the costs are relatively lower, and the level of return on investments - higher. Foreign investment funds play a crucial role. Until now, activities in the PRS sector were based on the purchases of the existing residential stock, as well as forward-purchase and forward-funding transactions. The cooperation between PRS investors and developers takes various forms.
Planning
The Guide highlights and explains the key elements of a PRS product strategy. Long before starting the investment, it is important to get to know the profile of tenants as well as the offer and plans of the competition. In the publication, we remind that the strategy should include both fixed elements, such as location and architecture, as well as more flexible ones - including the brand image. We describe a long-term cost strategy, rules of pricing and many others.
Design
The Polish market is maturing to the point where selected projects are designed from the very beginning to serve as PRS apartments. We describe a good design process that includes care for durability, functionality, cost savings and many more. The publication emphasizes how zoning allows for an appropriate distribution of functions, what are the most common types of housing and what environmental and social responsibility really is - and how to measure it. We do not forget about the adaptability of architecture and advise how to take care of aesthetics
Execution
In this section, the PRS Guide focuses on the specifics for achieving a high quality end result. We advise what materials to use, what installations to introduce and what furniture to choose. Apartments for long-term rental are to serve for many years, so we pay extra attention to possible breakdowns and servicing. The publication guides through the various parts of the facility and the apartment rooms, pointing to good practices and detailed solutions.
Management
Proper design and execution is only half the battle - managing a PRS facility is a long-term task. Therefore, the last part of the PRS Guide focuses on the operational aspect of the running project. We indicate many elements related to management, explain the importance of service quality and introduce the social aspect of the project. An apartment for rent becomes a service - its attractiveness should be taken care of on an ongoing basis. Therefore we pay a lot of attention to amenities for residents, including technological facilities.
WORKSHOP: PRS Product Strategy
During our workshops we focus on the analysis of the development prospects of the rental market in the context of a specific business. The workshop includes:
- Prezentacja wniosków z Przewodnika po PRS oraz Built-to-Rent in Poland reports,
- Brainstorming on the development prospects of the rental market, in the context of the client’s business,
- Discussion of the client's business development from the point of view of PRS investments.
The workshops result in a thorough knowledge of the rental market development prospects and:
- Initial analysis of the location potential for the owned premises in the context of Built-to-Rent investment
- Outline of the service implementation strategy in the context of PRS investment.
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