If you are a landlord or aspired investor, you know the market is strong. According to U.S. Census data, the rental market has increased by 37 percent since 2006 and continues to grow. Renting is steadily outpacing ownership; more than 30 percent of Americans rent and the market shows no signs of slowing down as millennials become the highest drivers of demand for single-family rental homes (SFRs).
With increasing demand, investors have also given the SFR market more attention. Competition is intense, especially as Wall Street’s presence becomes more pronounced. The independent investor must create efficiencies and drive steady earnings to keep an edge. With a focus on strategy, diligence and standardization, local independent investors can compete. Here are three tips on how.