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Why Single Family Real Estate Rentals Are Here to Stay

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By Chris Clothier

There were also some surprises:

• Some 52 percent of all renters, and 60 percent of single family renters, plan on becoming homeowners in the next five years. Clearly, single family rentals are serving as incubators and stepping stones to homeownership for potential buyers who need time to put their finances together and build their credit.

• However, 26 percent of single family renters have no plans to move at all. For them, a single family rental is the ideal destination; the amenities of single home living without the risk, cost or obligations.

• Finally, 84 percent of single family renters gave their property management company or landlord good to exceptional ratings, significantly higher than apartment dwellers. Only 5 percent rated their property management as poor.

There was one final surprise. We asked those renters who did not plan to buy a home in the next five years if access to financing was a reason, and only 29 percent said it was due to difficulties obtaining a loan. More mentioned that they just didn’t want to become owners or that they enjoyed renting.

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