For Justin Onorato, CIO of BTI Partners, which is developing a 1400-acre master-planned site called Crossprairie in Osceola County, Fla., single-family rentals represent a possible conversion opportunity within a master-planned community.
"Our experience has been that renters actually become buyers in the community," Onorato says. "So it [single-family rentals] is an interesting way to bring people to the community. If they like the location, the next thing you know, that renter becomes a buyer."
While Onorato doesn't think the large, national homebuilders want to be inundated with too much of the same product, they aren't opposed to some rental homes.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
