by Wolf Richter
Wolf Street
American Homes 4 Rent and Invitation Homes sold over 3,000 older single-family houses in 2023.
Building professionally managed communities of single-family houses for rent, with their own leasing and maintenance office, is the hottest trend in new house construction.
“Build-to-rent” has attracted homebuilders, from the biggest on down. And it has attracted the biggest single-family landlords that, instead of buying houses scattered all over the place to be rented out, are buying entire build-to-rent communities from homebuilders; and some also have their own build-to-rent construction programs where they buy the land and build these communities and lease them out.