The Future of Single-Family Renting is Here
Over the past decade, millions of Americans have found themselves moving to Texas for the wide-open spaces, lower taxes and great economic opportunities. The growing demand for comfortable, cost-effective and modern homes to meet this influx of people has caused a housing shortage that is currently driving new trends across the state. Texans, both new and old, are looking for more space to call home, while increasing median prices and the unpredictability of homeownership has pushed people, particularly millennials, towards rental opportunities.
These residents are finding their homes in build-to-rent communities that specialize in designing, developing and professionally managing houses for rent. Designed for all tenants, the structures are typically two to four bedrooms and feature the upscale amenities most people expect from their modern homes. From granite countertops, stainless-steel appliances and in-unit washer and dryers, build-to-rent homes have the high-end finishes that make residents feel comfortable while still being a cost-effective choice.
For many families looking for options beyond homeownership and traditional apartment living, build-to-rent communities offer a homey alternative while still providing the benefits of apartment property management to help keep the house up to date. These upscale, worry-free amenities like quality maintenance and shared community space encourage residents to not only stay longer in the houses but also ensure higher renewal rates across the board.
The Case for Build-To-Rent Communities is in the Numbers
Currently comprising only five percent of the new homes built on the market, build-to-rent houses have been growing rapidly in demand over the past few years. However, economic uncertainty and the renewed need for more living space caused by the global pandemic will further increase the demand for rental homes—a preference over apartment complexes that will likely remain. Build-to-rent houses will continue to be seen as a better financial alternative by millennials, empty nesters, families and tenants demanding new residential options.
Forbes Magazine predicts that by 2030, there will be 13 million new American families living in single-family-rentals — totaling 28.8 million families in 10 years at a growth rate of 6.19 percent. These numbers, while exciting, are not sustainable with the current supply. Only 40,000 built-for-rent family homes are completed every year, meaning that by the time we reach 2030, there will only be about 16.2 million homes on the market.
The build-to-rent market, while growing, is too small to meet the widespread demand but in Texas, where everything seems to be bigger, the opportunities for the build-to-rent market are just as large.
“Building the Future of Fine Living”
That’s why at Wan Bridge, we have spent the past few years dedicating ourselves to developing the build-to-rent, single-family home market in the Houston and Dallas-Fort Worth areas. Our knowledge of scaling build-to-rent concepts in land development, home construction, leasing service and property management, gives us the ability to build high quality homes and master-planned communities quickly. As a leading single-family-rentals developer and operator, Wan Bridge has more than $550 million assets under management and manages more than 1,500 properties. By 2021, we expect to add an additional 1,300 rental homes ready to be leased throughout Texas.
We pride ourselves on our ability to provide quality throughout the entire development cycle, acquiring land, building homes, managing leases and providing consistent, quality service to tenants. Our affiliated property management company allows for complete control and monitoring of on-site activities including the maintenance, lawn and landscape care, light bulb replacement and general management concerns, which lets residents live with the peace of mind that their needs will be met.
The Wan Bridge Process
Our ability to find high-quality land assets in the state of Texas and partner with the top developers has led us to create beautiful communities that bring neighbors together. With rental communities in Forney, Pearland, Bonney, Kingwood, League City, Rosharon and Denton, we specifically choose locations that are close to economic centers, surrounded by thriving communities and have access to great school districts and retail areas.
Whether you are an empty nester, a growing family or just someone looking for space and community, our build-to-rent home are viable alternatives to home ownership. We work with cutting-edge vendors and partners to help us build the future of fine living. Our homes are designed to fit the needs of people looking for a hassle-free home with the housing quality and community amenities of a national scale builder.
Wan Bridge provides upscale homes with high-end amenities only available with property management companies that will let every to live comfortably and get more bang for their buck. Some examples include:
- A large kitchen island
- Generous closet space in each bedroom
- Easy-to-clean countertops, floors and walls
- Plenty of bedrooms and bathrooms for the whole family
- 10-foot-high ceilings
- Open floor plan
- Community jogging trails
- Dog parks
- Play areas
Recent Activity and News from Wan Bridge
The success of Wan Bridge’s communities has led us to plan further developments across the state. In August of 2020, we announced a brand-new community of townhomes in the high-profile Balmoral Community, which is known as the home to the first Crystal Lagoons amenity in Texas.
Wan Bridge’s Clearwater at Balmoral will be an upscale duplex and triplex community with 94 units ranging from 1,400 to 1,800 square feet with three to four bedrooms each. These new homes will meet our high standards by being functional, having ample storage, and remaining aesthetically pleasing to residents with high ceilings, open floor plans and tall windows that bring in plenty of light. In response to client demand, WB Homes has expedited its production schedule and plans to have the units built and available for lease by the end of the year.
This exclusive offering of duplex townhomes for rent is a first for Balmoral. With excellent amenities, a great location and an award-winning masterplan, Balmoral is the ideal place for Wan Bridge to continue to grow our build to rent concept.
The Path Forward and Endless Possibility
As the housing market continues to change after the global pandemic, Wan Bridge is rising to the challenge to meet the rapidly evolving demands of residents. We understand that home and work life won’t completely get back to normal for at least a couple of years. While not everyone can afford a home right now, our Wan Bridge homes can provide the perks of both homeownership and apartment living, while accounting for the space needed to live comfortably, work functionally and still play with the whole family.
Build-to-rent homes are the perfect choice for people across Texas. With more space and more community, without the hassle of actually owning a home, Wan Bridge can provide the most comfortable home and living situation for you and your family. Build-to-rent communities are the communities of the future and Wan Bridge is excited to build a better tomorrow for you.
Contact Wan Bridge today to learn more about one of our upscale, build-to-rent communities.