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There’s a new type of starter home that’s providing a viable alternative to homeownership: the build-to-rent (BTR) single-family home.
Rising interest rates, the lack of entry-level inventory, and a growing demographic priced out of ownership have given rise to the single-family rental market. Here, residents can enjoy the space and privacy of a single-family home, minus the mortgage. Some of the residential building industry’s biggest players, such as D.R. Horton, Taylor Morrison, Toll Brothers, and Lennar, are developing BTR communities or renting unsold inventories.
In an interview with Multifamily Dive, Bryan Moore, president and CEO of DBA Architects, says BTR communities commonly feature the sort of amenities that you’d find at a luxury apartment.
“They get an amenity package that’s just like a typical high-density building. You still have the amenity center, the fitness center, the resort-style pool — all those kinds of things that you would have in a traditional multifamily project,” Moore says. “But then you have your private residence, your own private address … and they pick up your trash every morning, or two times a week, just like if you were living in a single-family home.”
Moore goes on to describe amenities as an “arms race” among developers. Some communities feature business centers, micro-marts, and cold storage for food deliveries.
Projects such as these present many opportunities to incorporate efficient, clean-burning propane to fuel pool heaters, fire features, and outdoor kitchens among other amenities.
