What are residents really looking for in these properties?
Over the past decade, the single-family rental sector has bloomed from a niche market driven by mom-and-pop entities to a full-blown sector. The pandemic turned it into one of the top desired housing options for renters and one of the top opportunities for investors. The SFR resident base continues to expand, fueled primarily by the Millennial generation, which needs more space for their families and for home offices.
An attractive feature of SFRs is the amenity package, because, unlike traditional single-family homes, SFRs form communities managed by the same owner. Depending on the location of SFR communities, the amenities can be varied and quite similar to the one offered at multifamily communities.
For one SFR community, “walking trails, dog parks, green space and playgrounds are the most frequented by residents, and therefore the most important,” Ting Qiao, Wan Bridge’s CEO told Multi-Housing News. “While a community pool is attractive to potential residents, the utilization is often low, especially compared to the amenities mentioned above, which are used on a daily basis.”
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