Build For Rent Communities Of Single Family Homes Gain Popularity Due To Coronavirus

By Jay Wittner June 4, 2020

Build for rent communities (BFR) have been a growing trend recently, but Coronavirus concerns make them even more popular now (high density traditional apartment complexes make people nervous).  Developers like BFRs because tenants tend to stay in place for far longer periods.  Traditional apartment tenants tend to move out within two years.  Renters of single family homes tend to stay for five to eight years.  Newly build BFR communities are especially popular with Millennials and Baby Boomers that are attracted to the maintenance free lifestyle.  Some high-end communities are embracing the concept.  Lakewood Ranch (Sarasota/Bradenton) has partnered with Zilber Residential to create a 230 residence development called Estia Lakewood Ranch. Some other local developers working in this area include Neal Communities and ERC.