The multifamily digital ad agency holds a strong single-family rental presence across the nation's Sunbelt. Marketing strategies cover developments in Florida, Georgia, Tennessee, North Carolina, Mississippi, Texas, and Arizona.
The past two years have been for the real estate record books. We've witnessed an exodus from some of the nation's most highly sought after and expensive cities, 35% year over year rent increases in the Sunshine State, and exponential spikes in single family home values throughout the country. With mortgage rates now above 5% and rising more quickly than we've seen in decades, we are living through a very interesting time of inflationary prices, limited supply, and high demand for places to live. Not to mention, desperate homebuyers continue to be outbid by over asking price, all cash offers- many of which come from large institutional buyers.
With so little inventory available, yet a clear demand for more space having lived through the confines of the pandemic, developers and institutional real estate players continue to move quickly into the single family rental space. The concept comes with less frills compared to the high rises filled
with golf simulators, rooftop pools,
and state of the art fitness equipment that have been the focus of multifamily over the past decade. Despite the lack of over-the-top amenities, (communities may have a clubhouse or pool) the demand for affordable, spacious homes in the nation's secondary and tertiary cities is certainly there. Major industry developers and institutional buyers that have dominated the multifamily space for decades are quickly moving into the newly adopted niche of real estate.
With a new concept, comes new challenges. Many multifamily property management companies are quickly being tasked with leasing up neighborhoods of standalone houses sprinkled throughout the nation's suburbs. This is a stark contrast to what has been the main focus of the industry over the past decade- urban, amenity filled high-rises with immediate access to social and nightlife. Single-family rentals appeal to a different type of renter, many of whom are at different stages of their lives than the urban city dweller. And, with a different type of renter comes a need for a different strategy.
Street Digital Media has quickly gained expertise in the single family rental space over the past year. The digital agency has quickly grown in the SFR space that stretches across the Sunbelt, covering Florida, Georgia, Tennessee, North Carolina, Mississippi, Texas, and Arizona. While single family renters may not be looking for the glamorous amenities of the city, they still look to the top online resources to find a singe family home. As the industry continues to see a strong shift towards single-family rentals, the need for a robust online strategy is arguably more important for the SFR space. The suburbs leave for less walking or drive by traffic, no room for five story high building banners, or street front leasing centers. Nevertheless, the end goal is still the same and often times more aggressive in the SFR space, where the name of the game is typically, "lease up, fast." The physical challenges are certainly there compared to in-town lease ups, but the need for a successful online marketing strategy are right in line.