Thursday, November 30, Build-to-lease or build-to-rent communities are developed by home builders who lease rather than sell the new residences.
Since then, a spate of build-for-lease communities have cropped up in Northern Nevada. The build-for-rent model often hits a sweet spot for a certain demographic of Northern Nevada residents, said Brent Landry, executive vice president of development for AMH.
Affordability for people to purchase homes for their families has never been worse, yet the desire to live in a single-family detached home with three to five bedrooms is as high as ever.
This mismatch has created an opportunity, and as a leader in the build-for-rent space we see these types of communities as an important housing option. The publicly traded REIT has approximately 60, houses in its portfolio, and it has constructed more than 8, homes in over communities nationwide, Landry told NNBW.
AMH has an additional 13, lots in its pipeline of inventory for future build-for-rent housing units, Landry added. AMH closed on the Those rental prices are typically 25 to 30 percent more affordable than purchasing a similar-quality home, Landry said.
