The nation’s largest group of landlords owing single-family rental homes has formed a new trade group called the National Rental Home Council.
Colony American Homes, Invitation Homes, American Homes 4 Rent, and Starwood Waypoint Residential Trust are the founding members of the new group. While small real estate investors own the majority of the 14 million single-family rental homes, the institutional investor-owned portion represents about 200,000 homes.
The new group will serve as a resource for media, policymakers, industry leaders, local officials and others who want to gain a better understanding of the industry.
“Rental demand in communities across the country is strong,” Gary DeLapp, president of Invitation Homes, said in a release. “Our members are professionalizing the market, offering high-quality, professionally managed single-family rental homes to residents and families looking for an alternative to buying a house or renting an apartment.”
“Our investment in local communities helps to create new jobs through renovation and property management, and drives economic growth by providing income for local businesses and tax revenues for state and local governments,” Justin Chang, CEO of Colony American Homes, said in a release. “Furthermore, our investment in local communities contributes to a vibrant and stable single-family rental market nationwide.”
Colony American Homes and others have begun marketing bonds backed by these rental properties.