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- Title
Institutional Investors in the Single-Family Rental Market.
- Authors
Ermengarde, Jabir; Thomas, LaSalvia; Victor, Calanog
- Abstract
Over the past decade, single-family rentals have emerged as a commercial real estate sector in their own right. Once the purview of small investors, this asset class has increasingly become institutionalized, leading to concerns regarding the potential crowding-out of homeowners as an individual institutional operator can own upward of 10,000 homes in a metro area. REITs and private equity firms, among other institutional owners, have expanded their interest in single-family rentals beyond properties found in the existing housing market to also include build-to-rent communities, the latter of which are perceived to divert construction resources away from new supply for the single-family purchase market. However, while single-family rentals in markets in which large corporate owners operate do command higher rents, there is no evidence that institutional operators are impacting homeownership at the national level.
- Subjects
COMMERCIAL real estate; INSTITUTIONAL ownership (Stocks); HOME ownership; DWELLINGS leasing &; renting; LEASE &; rental services
- Publication
Journal of Portfolio Management, 2023, Vol 49, Issue 10, p135
- ISSN
0095-4918
- Publication type
Article
- DOI
10.3905/jpm.2023.1.547