Canadian Homebuilder Enters ‘Build to Rent’ Sector in Texas with Dellrose CommunityJanuary 23, 2023, The Houston Chronicle: More communities of houses built for the rental market are on the horizon in the Houston region.
Empire Rental Living, a division of Toronto-based Empire Homes, will open its first build to rent community in the Houston area and more are on the way in Texas. Gehan Homes, based in the Dallas area, is also eyeing Houston and other markets where it builds to expand into the rental space.
Homebuilders are increasingly moving into building rental homes as a way to diversify their portfolios as home sales have slowed as mortgage rates shot up over the past year. The homes provide an alternative to apartments for residents seeking a yard, community amenities and suburban schools without the commitment of a mortgage. In the last year alone, more than 3,000 homes built for the rental market across nearly 20 projects have been announced in the Houston region, according to Chronicle reports.