Confused by property acronyms?
In the world of property there's a lot of confusing terminology and acronyms, a lot of which we refer to in our articles and marketing materials. So if you're confused here's a bit of a guide to help clear things up.
One of the big growth areas in the UK property market over the last has been an increase in city centre living. Due to the limited amount of land available or the increased adaptation of existing city centre buildings, the vast majority of these properties consist of individual apartments. This type of construction maximises the amount of occupants for the given space available which is great for the developers and also meets the growing demand for this type of property.
These types of developments are known as known as Multi Dwelling Units or MDU. This commonly used term perfectly explains exactly what they are. Units can be beside one another or on top of one another. The vast majority of MDU property is built for and occupied by residents in the Private Rented Sector or PRS.
Some examples include buildings with space for both commercial business and an area for residential or buildings that contain multiple flats with shared amenities such as parking, gardens and walkways – typically the building is on a single title and additionally each unit has their own tenancy agreement in place. Multi-unit properties are not to be confused with Houses of Multiple Occupation or HMO's, which are generally room lets with shared bathrooms and kitchen.
However within the MDU arena there's also some other commonly used terms which you might not be familiar with.
Many properties are what's known as Build to Sell or BTS. These properties are literally built to sell to either the individuals who'll live in them or may be purchased by individual investors who will in turn sublet them to individuals.
Other MDU developments can also be described as Build to Rent or BTR. This typically describes developments where all the individual apartments are owned and managed by a single landlord. These landlords are typically large investment companies or even pension companies.
Whatever the type of Multi Dwelling Unit, Optify full fibre technology is the ideal deployment to deliver the fastest and most reliable smart building solutions including Gigabit broadband, security and monitoring.
Here's a reminder of the terminology:
MDU - Multi Dwelling Unit
HMO - Houses of Multiple Occupation
BTS - Build to Sell
BTR - Build to Rent
PRS - Private Rented Sector
