Single-Family Home Rentals Are Excelling in the Pandemic
Stay-at-home orders tied to the COVI/D-19 pandemic have not tamped down the demand for single-family house rentals, executives from two REITs said…
May 12, 2020 | Cheryl Miller | GlobeSt.com
Stay-at-home orders tied to the COVI/D-19 pandemic have not tamped down the demand for single-family house rentals, executives from two REITs said in recent first-quarter earnings calls.
Dallas Turner, president and CEO of Invitation Homes, said occupancy climbed to a record-high 97.2% in April as the company increased its access to working capital and paused sourcing new acquisitions to be ready for the pandemic’s many uncertainties.
“Shelter-in-place has not impacted our ability to lease homes,” Turner said. In fact, he said, residents have been moving into the company’s properties at the same rate as last year and at a faster clip than they have been moving out.
