A Deep Dive Inquiry & Decision-making Process tailored for BTR success.

The pre-development phase is a critical strategic stage that underpins the project’s feasibility and success. Our proven Pre-Development process of inquiry is tailored to meet the exacting and highly complex nature of Build-to-Rent.

We help you to identify both the challenges and the opportunities inherent in their BTR projects, equipping you to make informed and confident choices for the road ahead.

Project Definition and Scope:

This initial step involves defining the project’s goals, scope, and requirements. It sets the foundation for all subsequent planning and decision-making processes. Whether this is your first BTR project, or one of many you have undertaken, BTR Consulting will work with you and your team to set a precise and powerful basis for your development. 

Site Analysis:

A thorough analysis of the site is conducted, considering factors such as location, accessibility, zoning laws, and environmental impact. With BTR projects this is a vital phase. The documentation that we build here will provide the basis for permit and license applications and pave the way for smooth approval processes throughout.

Constructability Review:

Our rigorous Constructability Review is the core component of the Pre-Development Process. To describe this detailed and precision-oriented process in simple terms, we use advanced tools and methodologies to investigate and illuminate every aspect of your design-build plans as they are being created. This means we can determine the real-world buildability of the design, identify problems with cost and uncover potential risks – as well as opportunities.

The benefits of this process, conducted by a consultant team with deep experience gained in a wide variety of leading BTR projects and working closely with designers, architects, engineers, owners, stakeholders and construction leads, cannot be underestimated. Your Constructability Review will be ongoing through the design process and will include:

  • Financial Planning & Feasibility: Financial models are created to assess the project’s viability, including cost estimates, funding sources, revenue projections, and return on investment. The greater clarity gained by expert analysis and insight means that both owners and contractors can cost more accurately and realistically.
  • Risk Assessment & Strategy: Identify, assess and mitigate risks including market, legal and environmental impact concerns as well as financial to eliminate or plan for them.

The Budget cycle

Lockstep Budget Management for all phases of Design Development:

Initial Budget
Initial Budget with Preliminary/Conceptual Design:

The initial project budget covers all necessary expenditures required to bring the project to fruition, such as funding, permit fees, legal costs, site development, equipment, labor, contingencies and much more. In this phase we establish the financial framework with preliminary/conceptual designs to set realistic expectations for the project's cost.

Budget Management
Dynamic Budget Management:

With an initial budget established, the budget will be updated through design development and submittals to reflect real-time cost implications and adjustments. Our documentation of these processes is necessarily precise and extremely thorough.

Contract Procurement
Contract Procurement:

With the initial budget finalized with detailed permitting and construction plans, ensuring all financial aspects are accounted for before breaking ground. We are in a strong position to offer prospective contractors full clarity on the requirements for their bids. Contractors can bid more accurately with clearly itemized briefs so there is less need for contingency costing. The entire project is now off to a realistic start.

Budget Evolution
Budget Evolution:

All construction projects must account for variables, and unforeseen contingencies throughout the project lifecycle. With BTR, the type and number of these kinds of cost challenges increases exponentially. This is where you need BTR-experienced eyes and brains more than ever.  We track, monitor and refine the documented budget tenaciously from initial concept through to the final procurement phase.

Project Scheduling:

A BTR project consists of many timelines for different parts of the project. In readiness for the next phase, detailed schedules are created and aligned after careful investigation and quantifying of what is involved and what is realistic in each case.

An overall project schedule outlines the track of each individual part, from pre-construction to completion, and lays the groundwork for the vital work of tracking and monitoring progress that will be ongoing throughout.

Contractor Selection and Bidding:

A process for selecting contractors and subcontractors is established, which may include issuing requests for proposals (RFPs) and evaluating bids based on quality, cost, and experience. BTR Consulting has a vast network of tried and tested suppliers and contractors who have the experience and awareness of the nature of BTR and its high-level requirements. Due process in selection and bidding is essential. The value of the careful in-depth fact-finding done in the constructability and feasibility inquiries becomes very apparent when it is time to prepare RFP’s and negotiate formal proposals.

Stakeholder Engagement:

Engaging with stakeholders, including the community, government agencies, and potential users, is crucial to align interests and gain support for the project. This can be a significant part of a Build-to-Rent project given the size of these developments. It is essential to engage with all the local and administrative parties and forge good relationships and open lines of communication.

Open a conversation with BTR Consulting

We would love to help you to make a success of your Build-to-Rent project. Contact us today to arrange an exploratory consultation.

Let us know how we can help