Atrium Blog

OUTPACING APARTMENTS

System - Tuesday, April 13, 2021
Property Management Blog

For example, single-family occupancy at Lake Mary-based property management firm Atrium Management Co. is up 3.6% year over year, said owner Adam Wonus. Meanwhile, apartment occupancy at Atrium is unchanged when compared with last year, Wonus said.

“People are staying in homes and renting more quickly. There are certain properties that have issues, but on the single-family side, delinquencies were not off from where they were before [the pandemic]."

Single-family home rents for properties with new occupants grew 7.5% year-over-year in October, according to the most recent data from Uniondale, New York-based Arbor Realty. Rents in homes with lease renewals grew 4.1%. Meanwhile, multifamily rent growth was down 1.4% in the fourth quarter.

That's because of demand for the interior space and amenities offered by a single-family home, which is why Grant chose her Apopka rental, she said.

“Being able to give my children a home with a backyard, not an apartment, I hope that a lot more communities like this will come up in this area.”

Source: Orlando buyers and builders turn to built-for-rent homes