In the past, single family rental properties were exclusively owned by small landlords. In the last few years, large scale investors and apartment complex owners are getting in the SFR game. Especially since the beginning of pandemic, the amount of people who want backyards and spare bedrooms but don’t have the money for a down payment has greatly increased!
Another reason for the increase in SFR is that owning a home isn’t as big of a life goal as it used to be. A lot of younger people don’t want the hassle of being a homeowner but are financially secure and want the space of a single-family home. Many larger developers and apartment managers also see this as an opportunity to diversify their portfolio and serve a wider variety of clients throughout their lifecycle.