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Rent Surges on Single-Family Homes With Landlords Testing Market

Rent Surges on Single-Family Homes With Landlords Testing Market
With occupancies north of 95 percent, some single-family rental REITs are raising rents by nearly 10 percent on vacant units.
Bloomberg | May 07, 2021
(Bloomberg) Record occupancy rates are emboldening single-family landlords to hike rents aggressively, testing the limits of booming demand for suburban rentals.
American Homes 4 Rent, which owns 54,000 houses, increased rents 11% on vacant properties in April, according to a statement Thursday. Invitation Homes Inc., the largest landlord in the industry, boosted rents by similar amount, an executive said on a recent conference call.
Housing costs are jumping across the U.S. as vaccines fuel optimism about a rebound from the pandemic. With homeownership out of reach for many Americans, rents are also climbing. The increases may add to concerns about inflation pressures as the economy recovers. ....

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The Day - U.S. downtowns yearn for vaccine as merchant traffic falls 70% - News from southeastern Connecticut

David Alexander at American Haircuts in Atlanta. (Dustin Chambers/Bloomberg)
Vehicles travel along a nearly empty highway in Atlanta. (Lynsey Weatherspoon/Bloomberg)
Pedestrians pass in front of customers sitting in the outdoor dining area of a restaurant in the Wicker Park neighborhood of Chicago in November. (Taylor Glascock/Bloomberg)
Published December 13. 2020 12:01AM
By MICHAEL SASSO and ANDRE TARTAR, Bloomberg
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The Chicago Loop Alliance, which promotes the downtown core, rolled out a Back-to-Work website in early October encouraging workers to put on slacks again and try returning to the office.
Its hope was short-lived. Covid-19 came roaring back in Chicago within weeks of the campaign s launch, and the alliance quickly toned down the program. The hard push to get people to come back has definitely softened, for now, said Jessica Cabe, a spokeswoman for the group. ....

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