Single-family build-to-rent has become a big business, and home builders have noticed. Here's one in Texas, who has realized that rental nets more than sales over the long term. CNBC's Diana Olick reports:
Demand for single-family rental homes is surging, and home builders are now stepping in, redesigning and reimagining the sector — and becoming landlords themselves.
While builders have always sold some of their new homes to investors as rentals, the strong demand has some moving into the space exclusively.
AHV Communities, partnering with Bristol Group, is putting up 250 new detached homes in fast-growing San Antonio. Pradera is a gated community with three- and four-bedroom homes, renting from about $1,800 to $2,300 per month. The community includes luxury amenities, like a pool, fitness center, community kitchen and party space, as well as a dog park and dog-washing station.
