During the pandemic many people developed an appreciation for more space in their home. This was especially true for renters in apartments. However, most of them cannot afford to buy a home, and are settling for renting single-family homes, and this is very attractive to homebuilders and investors.
According to Realtor Magazine, Lennar, one of the biggest homebuilders in the country, has created a venture called the “Upward America Venture” in which they plan to acquire single-family homes as rental properties. The venture is set to pick up $4 billion in single-family homes.
Rick Beckwitt, co-CEO and co-president of Lennar stated, “The Upward America Venture continues Lennar’s vision of becoming an [environmental, social, and governance]-driven homebuilding company by making our high-quality homes not only available for sale but also for rent, with a portion of homes available with a rent-to-own option.” He added “The vehicle’s social focus provides a unique opportunity for families and individuals across the country to live in brand-new homes at an attainable price point, all without putting up a down payment.”
According to William Rahm, senior managing director and global head of real estate at Centerbridge, the single-family rental sector will probably continue its strong performance in the housing market. Centerbridge and Allianz Real Estate are partnered in this venture along with other investors.
If you are an investor looking for opportunities in real estate, then single-family rentals could be a great option for you. Any opportunity in the real estate rental market could be open to you. Amin Vali Real Estate Investment can discuss your options with you and help you find the perfect investment opportunity.