Trevor Koskovich shares his thoughts on purpose-built rental projects with Wall Street Journal
PHOENIX (Jan. 2, 2024) — As more Americans shift from traditional homeownership to renting, Northmarq’s President of Investment Sales Trevor Koskovich says that build-to-rent communities are a great alternative.
Renting has historically been a step toward homeownership for upper- and middle-class families. Build-to-rent subdivisions are now on the rise and replicate the look and feel of traditional suburbia, offering a more flexible, affordable and family-friendly housing option. Higher-income households are choosing to rental properties, and longer leases, allowing more spending on transforming and personalizing their residence into a home.
In a recent Wall Street Journal article, “The Rise of the Forever Renters,” Koskovich shares his insights on traditional homeowners who have become long-term renters. “They are trying to derive a community feel with all the niceties that come with homeownership without the burden of homeownership,” says Koskovich.
According to Yardi, a property-management software firm, there are approximately 553 build-to-rent developments completed or under construction. Northmarq has been an early industry leader in the brokerage and financing of single-family build-to-rent properties which have an average occupancy rate of 97%, according to Yardi. Learn more about Northmarq’s Build-To-Rent specialty group.
Topics covered in the article include:
• Influx of higher-income renters.
• New rental developments.
• Flexibility of renting.
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