Scattered Site Single-Family Rental Property Management Guide
The Foreclosure crises left many communities with large numbers of vacant single-family properties, and few people to purchase them. Consequently, small investors, non-profits, land banks and local governments purchased and converted many into rental properties. While CDCs and community-based groups focused on homeownership strategies prior to the crisis, its impact on families meant these groups had to pivot to affordable single-family rental housing to meet the needs of neighborhoods. As a result, the past decade has a seen a significant shift in housing stock from owner-occupied homes to rental housing.
The development of rental units poses a unique set of challenges, and these types of properties can prove to be difficult to manage for smaller CDCs or those with limited capacity. To preserve and grow this type of affordable rental housing, the industry must build the capacity of developers and owners of these properties and ensure they have the proper tools and resources to carry out deals. The guide provides examples of projects and strategies to develop and effectively manage the properties. It also highlights challenges to be aware of prior to starting this work. In it, you’ll learn more about assembling a good team for the early stages of project development, effective site selection, budgeting, and asset management.
