Episode
39: The Rise of Build-to-Rent: A New Era in Real Estate, with Josh Hartmann CEO of NexMetro
- Published
- Oct 30, 2024
- Duration seconds
- 3313
- Processing state
not_requested- Canonical source
- https://audioboom.com/posts/8598969
Actions
POST https://stenobird.com/v1/public/podcasts/onward-a-fundrise-production-4558889/episodes/39-the-rise-of-build-to-rent-a-new-era-in-real-estate-with-josh-hartmann-ceo-of-nexmetro/transcription-requests
Idempotently request low-priority transcript generation for this episode.GET https://stenobird.com/podcast/onward-a-fundrise-production-4558889/39-the-rise-of-build-to-rent-a-new-era-in-real-estate-with-josh-hartmann-ceo-of-nexmetro.md
Read the agent-friendly Markdown representation of this episode resource.
Summary
Build-to-Rent (BTR) may be the biggest innovation in real estate this decade and NexMetro Communities is arguably the originator. Since 2010, NexMetro has been developing BTR projects, with over 55 projects across the U.S., offering cottage-style homes specifically designed for renters. Hartmann provides insight into BTR’s growth, his unique business strategies, and the challenges in reshaping real estate for a new generation. Understanding Build-to-Rent Hartmann explains BTR as homes designed exclusively for rental, offering tenants a single-family home lifestyle without ownership. NexMetro’s developments include a range of single-story cottages that foster a sense of privacy while delivering amenities typically found in multifamily units, such as gyms and pools. According to Hartmann, BTR appeals to people who value flexibility and quality without the commitment of home ownership, filling a gap in the housing market for those who prefer to rent but want more than an apartment. The Three Pillars of BTR Hartmann distinguishes three BTR categories: 1. Single-family homes for rent. 2. Townhomes purpose-built for renting. 3. Cottage-style multifamily units, NexMetro’s specialty, blending the appeal of detached homes with the advantages of multifamily living. Timing Is Everything in Real Estate Real estate cycles are pivotal to innovation and profitability. As Miller points out, real estate evolves through “waves,” such as the mall boom in the 1970s or the single-family rental trend in the 2010s. BTR is shaping up to be the next big wave, attracting increasing interest from renters and institutional investors. Consumer-Centric Development Understanding renters’ needs has been crucial for NexMetro’s success. For example, through consumer research, they’ve learned that ameni…