Welcome!

Symbian Authors: Jack Newton, Kevin Benedict, Matthew Lobas, Shelly Palmer, RealWire News Distribution

News Feed Item

Single Family Renters More Likely to Stay in Place

New Survey Finds 80 Percent of Single Family Tenants Pleased with Management

MEMPHIS, Tenn., Feb. 25, 2013 /PRNewswire/ -- Single family home tenants are 18 percent more likely than apartment tenants to stay in their current homes five years or longer, suggesting that demand for single family homes, the fastest growing rental category, will be more stable than multifamily demand, according to a new national opinion survey released today by Premier Property Management Group.  

One of every four (26%) single family tenant plans to stay in place five years or more, compared to one out of five apartment dwellers (22%), according to a new national survey of renters by ORC International for Premier Property Management.  Founded in 1938, ORC International is a leading global market research firm and since 2007 has conducted the CNN|ORC International poll.

Stronger Ratings for SFR Property Management
One factor contributing to single family stability could be high marks renters give the quality of single family property management.  Some 80 percent of tenants in single family rentals said their property management was good or excellent compared to only 63 percent of apartment renters One out of four apartment dwellers (26%) rated their management as only adequate,

"With the emergence of the single family rental option, American families have a new housing choice that brings them the aspects of associated with owning their own homes important to families such as living space, privacy, safe neighborhoods and the sense of community— without the cost and risks of homeownership.  Single family rentals can be found in virtually every community today and more and more families are choosing single family rentals either as a temporary stop on the road to becoming homeowners or as a permanent solution to their housing needs," said Chris Clothier, director of sales & marketing and partner of Premier Property Management. 

Half of Renters Plan to Buy
Over half, 52 percent, of renters, including 60 percent of single family renters and 44 percent of apartment dwellers, said they anticipate becoming homeowners in the next five years.  Families with three or more members (64%) and children under 13 (69%) were more likely to become homeowners than the 43 percent who don't plan to become owners.

Clothier said near term interest in becoming homeowners among single family tenants reflects the new roles single family rentals are fulfilling as a stepping stone to homeownership for first-time buyers and as a sanctuary for large numbers of families displaced by foreclosures but who plan to buy again when they can afford to do so.

Rental Lifestyle, not Financing, Keeps Renters from Homeownership
Despite reports that difficulties getting financing are keeping many U.S. renters from becoming homeowners, the survey found that the inability to get a mortgage ranks only third of among the reasons renters don't plan to become homeowners. Among those who do not anticipate becoming homeowners (43 percent of all renters), 29 percent say they can't get a mortgage.  More renters report that they don't want to buy a home because they enjoy being renters (40%) or they simply don't want to be homeowners (39%).

Short term turnover rates for both multifamily and single family rentals over the next two years are 56 percent for multifamily and 59 percent for single family rentals. Apartments typically experience an annual 50 to 60 percent tenant turnover.

The survey also found:

  • Single family renters make more money and are nearly twice as likely to have children as apartment dwellers.  Median income for a single family renter is $75-100,000 (66%) versus $50,000-75000 (51%) for a multifamily tenant. Single family households are larger; some 65 percent have three or more members compared to 32 percent of apartment households.  Some 63 percent of single family households include children; only 34 percent of apartment renters have children living with them.
  • Most single family tenants are older, aged 35-44 (53%) compared to 14-34 (46%) and 65+ (61%) for apartment dwellers. 
  • Compared to apartment dwellers, single family renters value neighborhood features important to children, such as parks and playgrounds (65% to 71%), good schools (72% to 82%) and safe neighborhoods (97% to 98%).

The survey is available online at http://www.memphisinvest.com/national-renter-survey-2013 
and http://www.premierpropertymemphis.com/national-renter-survey-2013.

Methodology
This report presents the findings of a telephone survey conducted among two national probability samples, which, when combined, consists of 1,006 adults, 505 men and 501 women 18 years of age and older, living in the continental United States.  Interviewing for this CARAVAN® Survey was completed on January 10-13, 2013.  656 interviews were from the landline sample and 350 interviews from the cell phone sample.

All CARAVAN® interviews are conducted using ORC International's (ORC) computer assisted telephone interviewing (CATI) system.  The CARAVAN® landline-cell combined sample is a dual frame sampling design.  This means that the sample is drawn from two independent non-overlapping sample frames—one for landlines and one for cell phones.

About Premier Property Management Group
Premier Property Management Group was formed in Memphis, Tennessee by the Clothier family in 2009 and has grown to manage assets in value exceeding $150 million and consisting of 1,700 properties in two Top 20 U.S. Cities.  The purpose of founding Premier Property Management Company was to replace the below average property management options for real estate investors buying investment property in Memphis, Tennessee and Dallas, Texas. High quality property management companies providing exceptional customer service simply did not exist. Starting from the ground up, the management company has grown into a leader in developing processes and systems for providing outstanding customer service, seamless accountability and transparent communication.  Premier Property Management Group also mentors new property management companies and entrepreneurs entering the property management field.

About Memphis Invest, GP & Dallas Invest, GP
Both companies were formed to offer real estate investors a passive investment opportunity in two of the top U.S. markets for property investment.  Premier Property Management Group offers management services to the clients of each company along with other real estate investors.  Serving over 670 clients worldwide, Memphis Invest, GP and Dallas Invest, GP complete over 400 property acquisitions, renovations and long-term rental placements each year and Premier Property Management Group is on pace to have $250 million in assets under management by July 1, 2014.

SOURCE Premier Property Management Group

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...