With home prices out of reach, millennials and more opt to lease.
If new construction is going up in your neighborhood, chances are it’s a residential rental community. Because even as we slowly return to normal after the COVID crisis, housing prices have yet to return to a reasonable level for many buyers.
Priced out of the market, these once-prospective buyers are turning to rentals. But high prices aren’t the only reason rental communities are desirable today. Renters can enjoy perks that they might not get with traditional home ownership. Perks like on-site gyms, saunas, clubhouses, and pools.
And many two-income millennials are busy. They don’t want to spend the free time they do have on home maintenance. They desire the ease of lifestyle that some rental communities provide. With work-from-home business centers, pools, gyms, and even park-like grounds often on-site, these new renters don’t have to leave their homes for much. They can live, work and play all in one location.
Renting in these communities is also an increasingly good option for those who work remotely.
“It’s an attractive lifestyle for the right population,” says Ivel Turner, CEO and Founder of Oasis Realty Investment Group, and an expert on real estate investment. “For many people, renting is a perfect choice.”
This makes investing in multi-family properties a smart decision for those looking to build wealth today, says Turner. “Now is a great time for investors to take advantage of the rental boom,” he says. “Moving forward, I believe renting will be considered a valid long-term lifestyle for many populations, from Gen Z to retirees.”
Turner explains that an easy way to get started investing in multi-family rental properties is to invest with a real estate investment fund. At Oasis, Turner and his team offer accredited investors the opportunity to invest in proven, pre-vetted real estate funds and to collect passive income from these investments.
And because these funds are chosen by real estate experts with decades of experience, investors can rest easy, knowing that they are building wealth safely and securely, Turner says.
“Whether choosing to live in or invest in rental communities,” Turner adds, “it’s clear that both are a hot market today.”