"Avanta brings the depth of experience from its parent, Hunt, to this relatively new sector," said Jim Dobbie, President of Avanta Residential and Executive Vice-President for Hunt. "We are seeing a real shift in the mindset about home rental and ownership.

Dobbie said millennials, in particular, "seem to want the convenience and flexibility of renting, but in floorplans and with the privacy that typically comes with home-ownership."

That need is only expected to grow as millennials come of age and have children of their own. Hunt – through Avanta – is intent on giving this coveted demographic what it wants.

Hunt has more than $9 billion in completed developments delivering over 70,000 units. The real estate services company is the 3rd largest owner of single-family rentals in the country, according to the firm's website.

Single-family rental communities are distinguished by their wide amenity offerings – from front porches and community greens to manicured lawns and plentiful parking – within neighborhood-like settings.

Hunt said Avanta is positioned to set the standard for the industry.

"Avanta Residential is filling an unmet need in the market by developing thoughtful, well-designed, single-family rental home communities for people who crave a home but don't want to buy," reads the home page of www.avantaresidential.com.