Why is demand for single family rentals on the rise?
Below is a link to an article on GlobeSt.com. This article illustrates what we have known for sometime: single family rentals are a great long term investment alternative. As is illustrated in the article, and within our own data, single family tenants tend to stay longer than multifamily tenants. During this Covid-19 pandemic rents in multifamily properties are off by about 24% while rents for single family properties are only down about 5 – 10%.
Zelman & Associates, a leading Wall Street investment consultant within the real estate sector, foresees one of the results of the pandemic will be an increase in demand for single family houses. Living in the city within walking distance to restaurants and rapid transit seems very appealing to people, until a “shelter in place” order comes along and tenants realize how close they are to many other people with little space to call their own. Now life in the suburbs is starting to look more attractive to a lot of tenants.
This article also illustrates the significant increase in demand from investors to move into single family rentals. One major benefit of the single family sector is that it is within the reach of even middle class households who cannot otherwise afford to buy apartment complexes or office buildings. Excalibur continues to help middle class investors become millionaire retirees by investing in single family rentals in Metro Atlanta.