Renter Benefits – Build to Rent
Benefits for renters of Build to Rent homes (BTR) are listed below. Most of the information came from articles in the “In The News” section of this website.
- Favorable Millennial Demographics: A substantial driver of build-to-rent communities comes from Millennials, who are increasingly opting to rent by choice. This demographic shift is influenced by various lifestyle preferences, including the desire for mobility, less responsibility of homeownership, and the appeal of community-centric living spaces offered by BTR developments.
- The High Cost of Homeownership: As the cost of purchasing a home continues to rise, homeownership is becoming less accessible, particularly for younger generations. This economic barrier is pushing more individuals towards the rental market, where build-to-rent homes offer a viable and attractive alternative to traditional homeownership.
- Increasing Need for Financial Flexibility: In an era of economic uncertainty, many individuals are prioritizing financial flexibility over the long-term commitments associated with buying a home. Renting, particularly in BTR communities, offers the advantage of predictable monthly expenses without the unpredictability of home maintenance costs.
- Remote Work and the Need for More Space: The shift towards remote work has amplified the need for larger living spaces. BTR properties often provide more spacious and adaptable living environments compared to traditional apartments, making them an ideal choice for remote workers.
- Appeal of Less Dense Neighborhoods: There’s a noticeable shift in population migration patterns, with a trend towards less dense, suburban neighborhoods. Build-to-rent developments, often located in these less dense areas, are becoming increasingly appealing for those seeking a balance between urban and suburban living.
- Access to Outdoor Space and Amenities: The desire for access to outdoor spaces and high-quality amenities is a significant factor in rental decisions. BTR communities typically offer an array of amenities, including green spaces, fitness centers, and communal areas, which are attractive to renters looking for a lifestyle that balances comfort, convenience, and community.