Many buyers bogged down by rising interest rates and inflation are unable to qualify for home purchases, but according to Housing Design Matters, single-family built-for-rent homes offer a solution. Not only are single-family built-for-rent homes more affordable, but they also attract less competition than traditional for-sale listings. Perhaps most importantly, they also give tenants the feeling of living in a single-family for-sale home, just with fewer strings attached.
From horizontal apartments and cottages to small lot single-family rental homes, builders are expanding their built-for-rent repertoires to suit the changing needs of every resident.
One very clever builder has been building single family for-rent alongside his single family for-sale homes. And why not? Renters comes in the same shapes and sizes as buyers so they can co-exist side by side. Once you have or hire property managers, it becomes an alternative stream of income. This could be a great solution for unsold specs – especially if interest rates keep moving higher.
If you’re building for-rent alongside for-sale, how are they different? On the outside, they’re not. On the inside, think durability and ease-of-maintenance. I would recommend luxury plank vinyl floors. They are beautiful, durable and pet friendly. Some rental providers locate the HVAC in the garage for easy maintenance.