NEWPORT BEACH, CA—Opportunity for developing single-family rental housing, which has increased in popularity since the end of the downturn, exists in many Sunbelt markets, AHV Communities' CEO Mark Wolf tells GlobeSt.com. The firm recently announced its commitment to deploy $100 million in the development of single-family home-rental communities in major markets across the Sunbelt states during 2016. These will be luxury single-family home communities owned, managed, maintained and operated like luxury class-A multifamily properties. AHV says it is concentrating on the Sunbelt states because demand for detached-home rental living is strong and supply is limited. We spoke exclusively with Wolf about this type of housing and why demand for it is growing.

GlobeSt.com: Why is the development of single-family rental communities becoming more necessary?

Wolf: The expansion of single-family rentals has been on the upswing since the end of the downturn; however, the rental pool has historically consisted of existing older product located sporadically across any given market. There is a real opportunity to meet demand for newly constructed homes and drive upside through operational efficiencies achievable with the management of contiguous product situated together as one whole community. We have found the opportunity with our new developments to provide an increased value proposition to renters while creating a unique, efficient platform managed much like a multifamily community would be. Our new communities combine the management, services and amenities typically found in a luxury apartment, however these offerings are presented in a newly constructed detached home. We aren't familiar with any other developers combining these offerings at the quality level we are.