Single-Family Rental Home Trend is On-Going!

by Vine Brook House for Rent

Single-family rental homes are becoming more and more popular. They offer a lot of benefits to both renters and landlords. Usually, they have larger inside spaces and more outdoor space. There is usually a yard, and many have off-street parking. Also, a single-family rental home can provide a steady income stream. Compared to multi-unit housing, they are more affordable and easier to manage. The cost of acquisition is also less than that of a comparable multi-unit property. Keep reading to know more.

Single Family Rental Home is a Dream of Many:

A single-family rental home is a great way to maximize the potential of your property. It can offer capital appreciation, steady cash flow, and tax advantages. However, it can be more expensive than a multi-unit property. In addition, it requires more maintenance and attention. While these factors may discourage some investors, the long-term benefits of a single-family rental home outweigh the drawbacks.

Many people find such homes available for rent to be more appealing than a condo or apartments. They are usually located in a more stable neighborhood and provide more space and privacy. Additionally, they often have outdoor space, which is a big deal for people who want to spend more time outdoors. Moreover, a single-family home is more likely to be located in a good school district, which is something most families look for.

A Great Investment Even from an Investor’s Point of View:

As with all types of real estate, a single-family rental home can be a great investment. But it's important to understand the market trends before you make the leap. Having an effective marketing strategy and competitive rental rates are two ways to stand out from the competition.

With a shortage of homes in the market and increasing competition from other rental properties, rents are rising in the U.S. By 2021, the national average is set to rise by 4.4%. This increase is driven by a shortage of available homes for rent, which is pushing prices up at a record pace.

According to the National Association of Realtors, a single-family rental home will see a capital gain of about $3,500 if it's rented for at least a year. And the value of the home will also increase over time. If you choose a well-located, attractively priced home, you can easily get a return on your investment.

Since the housing boom in the early 2000s, more Americans are looking for bigger, more flexible living spaces. More and more people are working from home and taking advantage of a variety of mobility options, such as driving, riding the bus, or even sharing a car with others. Combined with an increased demand for more spacious living areas, this has led to more Americans renting than buying and Vine Brook Homes can help exactly in finding the right homes available for rent.