As the competition among buyers of single-family homes increased, enterprising land investors, builders, and other professionals in the industry joined forces to develop planned build-to-rent communities, which are tracts of rental homes, instead of competing with individual buyers for available properties.
As the pandemic progressed, the mindset and focus of many potential renters turned away from the more traditional, densely populated apartment setting. Instead, these renters sought a lifestyle centered around the home with perks like backyards for enjoying the outdoors in privacy, and built-in family entertainment, such as resort-like pool areas and garages for extra storage.
Build-to-rent properties typically offer the benefits of a master-planned community and quality housing as an alternative option for renters. So read on as we explore these three things to consider when investing in a Davie build-to-rent property
Location
Build-to-own communities are rapidly gaining popularity and are emerging as small towns within the context of a larger market city. These communities offer an excellent investment opportunity for those looking to invest in the build-to-rent sector in a market city. However, to make the most of your investment, it is essential to select the location for development carefully and work with a master planning community to maximize rental income potential.
Build-to-own communities command higher rental rates, as tenants are willing to pay for modern amenities and newer rentals. The addition of larger commercial tenants, such as grocery stores, restaurants, and cafes, further enhances the appeal of these communities, contributing to the growth of the market city and creating job opportunities for residents.
As walkability becomes increasingly important for tenants, it is essential to factor in their needs as pedestrians when planning the community. This means ensuring that the community is walkable, bikeable, and accessible by public transportation.
To achieve the best possible returns on your investment, it is crucial to have a thorough understanding of the market in the target city, as well as its future plans and the placement of build-to-rent communities. Working with seasoned professionals like the expert investors at Green Mountain Real Estate Group LLC can help you identify the most suitable property for developing a build-to-rent community in Davie. Our team of specialists can help you navigate the market, identify opportunities, and develop a comprehensive strategy to maximize your returns.
Tenants
The build-to-rent sector has become increasingly popular among millennials who find themselves priced out of the housing market or reluctant to become first-time buyers. These individuals, who may have sold their primary residence, are still competing to find suitable housing, leading them to turn to build-to-rent properties as a housing solution.
Typically, tenants in the build-to-rent sector are dual-income families with children who seek longer-term housing solutions, resulting in lower turnover rates. This translates to more stable income for property owners and reduced overhead costs since tenants treat the property as if it were their own.
When investing in a build-to-rent property in Davie, it is crucial to consider the importance of effective marketing and thorough tenant screening processes. After all, tenants are the backbone of your business. Additionally, the cost advantages of economies of scale make on-site professional property management feasible.
At Green Mountain Real Estate Group LLC, we recognize the importance of having a network of specialists to manage your build-to-rent properties effectively. Our team includes highly qualified professionals from across the industry, including top-notch property management experts who can handle everything from tenant screening to on-site maintenance, allowing you to sit back and enjoy your passive income. So if you’re looking to invest in the build-to-rent sector, we have the expertise and resources to help you succeed in Davie.
Planning
Build-to-rent investments are also more profitable because of the planning and design, simplifying community management as repairs and maintenance are carried out efficiently among the units. When investing in a Davie build-to-rent property, you should approach the purchase systematically and complete every task on the to-do list. Before buying the land, your due diligence should be carried out through the performance of a feasibility study and define problem areas with a critical areas designation or CAD, which is required before you can attain approval for projects of this magnitude. Doing so gives you a realistic picture of your possibilities and limitations for developing the land, the approach and costs of any necessary mitigation, and the profits you can expect to realize. Otherwise, failure to perform the steps that lead to a thriving build-to-rent community can result in a financial catastrophe with an investment you cannot develop and may have difficulty reselling. When you work with professional investors like those at Green Mountain Real Estate Group LLC, you will benefit from years of building connections to bring your dreams to reality. You can be sure of your numbers and rest easy knowing your project will stay on time and within your budget when working with the best in the business.
In conclusion, investing in a build-to-rent property in Davie can be a lucrative opportunity for investors who consider the location, market demand, and tenant screening processes. As millennials increasingly turn to build-to-rent properties as a housing solution, it is crucial to factor in their needs when planning the community. Partnering with professional investors, such as those at Green Mountain Real Estate Group LLC, can help you identify the most suitable properties and provide on-site professional property management to reduce overhead costs. If you need to sell your house fast, Green Mountain Real Estate Group LLC can provide you with a fair offer, and if you have land to sell, we can help you obtain the best value. So, whether you’re looking to invest in a build-to-rent property or sell your house fast, contact Green Mountain Real Estate Group LLC for expert guidance and assistance.