Wall Street Journal: Rising Home Rents Put Big Landlords in Sweet Spot
According to The Wall Street Journal,
The slump in home sales this spring has befuddled economists and bedeviled real-estate agents, given how low borrowing costs and unemployment have been. Big rental-home owners, on the other hand, are overjoyed.
“The rental market broadly is on very firm footing,” said John Pawlowski, an analyst at the real-estate research firm Green Street Advisors.
Those are highs for both companies and better than what has been achieved by owners of apartments, which are also in demand but suffer somewhat from being overbuilt, said John Pawlowski, an analyst at the real-estate research firm Green Street Advisors.
“The rental market broadly is on very firm footing,” he said.
Some investors are skittish about the nascent single-family rental sector’s expenses. These include maintenance of tens of thousands of far-flung houses, as well as property taxes, which constitute roughly half of these companies’ ongoing costs and have been rising along with home values.
To read the full article, click here.