There are over 135 million housing units in the United States. Of those, nearly 84 million are 1 to 4 unit homes. Of those 1 to 4 unit homes, nearly 22 million are for rent, representing approximately 16% of the US rental market.
Only approximately 1.5% of these 1 to 4 unit homes are owned by institutional or strategic investors. The vast majority of these rentals have been owned and operated by individual investors renting houses for supplemental income. These owners may not have the resources, know-how or appetite to maintain and invest in the homes over time. This has resulted in dramatic variations in upkeep, maintenance and service for what is by far the largest segment of America’s renting families.