MECKLENBURG COUNTY, NC - Many landlords in Charlotte-Mecklenburg have changed their business plans after knowing that single-family houses are more interesting for customers than regular ones.
Research reveals that the single-family house was profitable in 2020, based on reports from Invitation Homes and American Homes 4 Rent. The reports stated that the Invitation Homes get $196 million profit on the other hands American Homes 4 Rent makes $155 million from selling the single-family houses
Based on recent analysis, single-family rental houses focusing on the starter home segment in the suburban properties with affordable prices in Steele Creek and Highland Creek. The following facts by UNC Charlotte Urban Institute will support why this business is promising in Charlotte, NC.
1. The single-family holdings less than 11,500 houses in Mecklenburg County only. The holdings divide into six companies, for example, Progress Residential, American Homes 4 Rent, Invitations Home, Tricon, Armhest Residental, and First Key.
2. Average price for all single-family houses in Mecklenburg is $325,000 and it's $119,000 higher than regular company-owned property.
3. Landlords only focus on fewer things such as buying new units, renovating, and operating the units. From this, the landlords need to expect future promising demands of a single-family house.
4. Companies and house landlords have multiple units in the nearby area to multiple their profit. Let's say in Charlotte, the houses are worth $757 million.
5. Many contractors put interest on a single-family house and most of them neglect that they still have not enough holdings compare to the others. The small-family house in Mecklenburg has 4.3% in the market.
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