As Americans increasingly turn to rentals rather than buying homes, a new Phoenix-based commercial brokerage firm looks to take advantage, by uniquely focusing on residential rental investment portfolios.
The firm, SVN | SFRhub Advisors says it is the first firm of its kind to specifically focus on single-family residential rental portfolios (SFRs) and new build for rent (BFR) investment portfolios from five to 5,000 homes across the country.
The firm, which has 10 employees, is led by Jeff Cline and Mike Finch, who previously were senior advisors at SVN RealStar Advisors in Scottsdale.
Plans call for hiring 40 employees over the next 12 to 18 months, said Jeff Cline, a principal at SVN/SFRhub Advisors. Those positions will include client support and transaction management jobs.
He said the firm will focus on the rental market because of the growing rental market nationally.
“Investors are seeing an incredible opportunity with the ongoing rental shift nationally, with three out of the five living generations either considering or preferring renting than home ownership,” Cline said.
The statement cited statistics looking at the recent depth of the rental market. In 2016, 53.9 percent of household formations were rentals according to the US Census Bureau.
There are also plans to launch a new platform, SFRHub.com, by the end of the third quarter. The site will focus on acquisition and research data transactions. Exclusive beta testing on the site will also be offered to some companies, which will allow for locating, researching and transactions of SFR and BFR residential rental investment portfolios.