According to David Brickman, SVP of multifamily at Freddie Mac, more than one-third of U.S. households are renters, the largest share since 1997. Additionally, the nation has seen 5.4 million new renter households between 2004 and 2011, and growth is expected to continue. John Tashjian, principal at Centurion Real Estate Partners in New York City, explained the housing decline has “left a deep and lasting impression on the psyche of Americans as potential homeowners. This drop in consumer confidence has caused a rush toward rental housing which, in turn, has caused rents to rise nationwide and a decline in affordable rental housing stock.”
According to a new survey from Premier Property Management Group, the fast-growing population of single-family renters is more likely to dwell in their home for longer periods of time compared to multifamily occupants. This suggests the demand for single-family rentals offers greater stability than the multifamily market. One reason single-family renters might be more prone to stay longer is their higher satisfaction with property management, according to the survey.
Chris Clothier, director of sales and marketing and partner of Premier Property Management said that “Single family rentals can be found in virtually every community today and more and more families are choosing single family rentals either as a temporary stop on the road to becoming homeowners or as a permanent solution to their housing needs.”
When it comes to managing your single and multi family residential properties, Octazon Management has got you covered. Our full-service property management company can handle everything from maintenance and landscaping, to screening potential residents, marketing, advertising and managing your properties online with our advanced technology that allows us to stay connected and maintain transparency with our clients.
With Octazon, rest easy, because we bring order to residential property ownership.
Call us 888-324-9528 or email us at firstname.lastname@example.org today.
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