New Housing Concept - Build-to-Rent

[GailL1]

  A Contractor friend of mine took me to see a WHOLE community built on this concept.  WOW - I had no idea that this was catching on to this extent especially in major US cities and town.

CBS News 09/19/2024 - Built-to-rent communities a growing U.S. trend amid sky-high housing costs 

from the link:

As housing costs skyrocket and the demand for affordable homes surges, builders across the U.S. are constructing entire blocks of single-family homes specifically designed for renters. These so-called built-to-rent communities can offer another option for those who want a home but cannot afford to buy one.

A more local news cast shows that this type of community living is really growing in Metro Atlanta.

Atlanta 11ALIVE 04/09/2025 - Tired of apartment-style living? There are new rental opportunities tak... 

I did not see that these housing units are on the smaller size - many of the ones I looked at had 3-4 Bedrooms and multiple baths.  The rent wasn’t on the cheaper side either - how could it be when the cost of the units have to be paid for as well as the land cost, property taxes and any other fees that are on the “landlords” - I guess that is what one would call them; as well as a monthly profit from the rentals.

I can see how the concept is taking off - there are advantages but also disadvantages - the main one would be that the “renter” is not earning any equity and for most of our history, equity in ones’ home was a way to build wealth.  

Do you think that this equity wealth building concept is changing?  How fast? Cause I know lots of retiree who have hopes that their equity in their home would add to or support their retirement - are they gonna be in for a real surprise?

I think my contractor friend was impressed so I look for a plan from him on his take on this new home renting community concept real soon.  

Just something to think about - everybody needs a place to live - is this part of the answer?  Personally, for me, they are too bunched in but I would think that regardless of how people are living in them - buy or rent.

[papawofboo]

What is new about this. Ever hear of "low income housing", better know as "The Hood" or Getto.

[GailL1]

@papawofboo 

A long stretch from government housing,as you say, “The Hood” or Getto - These homes have rental amounts in the several thousands of dollars and a few hundred more each month as a maintenance and upkeep fee.  BTW, each of the (fenced) yards - front and back - are maintained by the community landlords - on a regular basis.  You cannot plant anything else on the plot without securing specific permission from the owners.  The rental agreements are very specific as to what a renter can and cannot do in respect to the home or the lot.

The next generation is seemingly having to make adjustments to how things have been done before because of conditions they now find themselves within - money, housing availability, location, etc.

My developer/contractor friend seems to think so - his reasoning is that when he develops a subdivision and builds the homes or sells the lots to other contractors to build according to his developer stipulations, that it all takes time and then more time to find the buyers who will qualify for a home loan with a down payment or pay cash - He says, finding qualified renters takes less time to get the home producing an income for him and his company.

I can understand all of this to a certain extent but will this new concept last and grow in popularity with the next generation of home occupiers?  Or is it just another place where they are paying to play and they just don’t want the responsibility of homeownership.  Without the equity increase factor, there does not seem to be a reason for home ownership.

[SpringIsHereVA]

👋  I have Papaw @papawofboo and ALOT of folks walk away when they can NO longer afford them. Florida Crime Hills (Pine Hills, Florida) even has the City Bus "refusing" to service the area. Women let their Drug Dealing boyfriends live in the house that is suppose to be for her and her kids (NOT his kids). Lol, you could NOT pay me to live there. Take care, Nicole  👵

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➡️[*** Papaw wrote: What is new about this. Ever hear of "low income housing", better know as "The Hood" or Ghetto. ***]

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[GailL1]

@SpringIsHereVA 

Where would they go if they walk away?  It is already a rental - they just go to a different rental, right?  Then the developer or landlord just puts in a different renter?

Like I said to @papawofboo, these have rental amounts of several thousand dollars a month + a monthly maintenance and upkeep fee.  

These seem a long way away from “government housing”.  

[papawofboo]

Puts in a different renter is the first step to becoming a Hood. People have thought for years that you can out price the folks that forms the hoods and gettos. And you can for a while, but look around, they are still growing.

If you can afford to be one of the first in that's good. But when you see it become over priced and U-Hauls at some houses then you better get gone. When it starts to have empty units is when they will turn to people on government assistant to keep the money coming in.  

It will take years for it to happen but it will happen. Ever so often I go back to my old home town. Places that had the great yards and upkept houses are now covered with junk cars, wore out sofa and several old burned out bbq pits plus a big blue trap on the roof.

[SpringIsHereVA]

Yes Papaw @papawofboo , that is what happened to Pine Hills.

➡️[*** YOU WROTE: Places that had the great yards and upkept houses are now covered with junk cars, wore out sofa and several old burned out bbq pits plus a big blue trap on the roof. 

Take care,

Nicole  👵

[WebWiseWoman]

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