30 years ago, the home building trend in the United States was building homes for traditional home buyers but in 2019 times have changed and more builders are focusing on building homes for the specific purpose of renting them out.
About Build To Rent
B2R is a collaboration of developers, construction companies, investors and management companies to build single-family housing on a large scale, much the same way as it’s done in multifamily housing.
But single-family investors and developers are taking the concept to a new level, building single rental homes or even entire subdivisions with similar flavor as highly amenitized and managed apartment communities.
Developers and owners can save significantly on building costs and earn greater returns by constructing a whole neighborhood at once, as opposed to building one-offs or buying properties in other areas and converting them to rent houses.
By contracting with a single general contractor, risk isn’t passed on to owners until the property receives a certificate of occupancy. Also, renters are more likely to stay longer in a brand-new home compared to one that’s been lived in, which reduces turn costs for the management company, say single-family industry experts. And a new home with a new tenant is more desirable when courting long-term investors.
Contact Martin Property Management
At Martin Property Management we specialize in full service property management. To learn more about the services we can offer you contact us today at (617) 957-0166 or connect with us online.
