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The Latest Real Estate Craze? Build-to-Rent

Every once in a while we like to give ourselves a pat on the back, not vey often, but in this case we feel like we've earned it. Long before the phenomenon we all now know as "covid" we wrote about another potential phenomenon. Yep, you guessed it...build-to-rent. The concept is the same as apartment and multi-family building for the rental market, only in this case substitute single family home construction in their place. 


People rent for countless reasons, including but not limited to rising home costs, poor credit, lack of credit, down payment difficulties, and for many they simply don't want to be bothered with the ongoing costs of ownership. However, if covid did anything to separate these markets, it was to make it more desirable to live in the suburbs and the exurbs, and to NOT live in crowded multi-family and/or attached style construction. It does seem that this could be a fixture for rental construction even after the virus is eradicated (or at least manageable) because the other widespread result of all of this madness has been making the remote work opportunity the norm where it used to be a somewhat selective category. 


This creates the need for more flexible space, dedicated offices, and also minimizes the immediate need to live closer to work, especially in urban centers. If you ask us, Build-to-Rent is here to stay because even absent the virus worries, the other reasons people rent and more importantly, where they want to rent, are here to stay as well. There...we're done congratulating ourselves now. Back to normal. 


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