Recently, the demand to rent single-family homes has risen in recent years. Real-estate firm CoreLogic reported that rental demand has jumped by more than 25% in the past year. This is said to be a result of families whose homes have been lost to foreclosure or mortgage issues. According to CNBC, apartments will not pose as competition. The competition will be found in foreclosed homes, which have been taken on by individual investors that have placed them back on the market for rent. A large portion of these rental homes has attracted investors whose goals are to build, “scattered-site property management infrastructure for an asset class that has long been the domain of mom-and-pop owners and smaller investors.” These investors show no sign of backing down anytime soon. According to CoreLogic, the leasing activity has risen 7% in the past year. Currently, single-family homes take up over half of all rental units in the United States.

Although home prices have risen 2% since last year and just by 1% so far this year, rental growth takes time to catch up to home price growth by about a year. Therefore, it is estimated that later this year and for the rest of 2013, rent growth will increase. The main appeal of these homes is the comfort that comes with having a yard, garage, privacy and all the above. All of these factors are what is ultimately leading to a high demand in single-family rental housing, and 2013 is only assumed to continue down this same path of high demand.

Our listing located on 1411 S. Main Street, Venice, CA 90291 has 100% occupancy. The 6-unit contemporary style condo building is listed for sale. Each unit includes 3 levels of living space, common area roof deck, private patios, and private garages. Make sure to check it out! The listing agent is Phillip Braunstein.