As Kat Aaron describes, turning foreclosed homes into single-family rentals is an increasingly popular way to get them reoccupied quickly.
"Scattered-site rentals provide nonprofits with a strong physical presence and stakeholder role within a neighborhood, enabling them to be more involved in local political lobbying and neighborhood change," says Benji Power of Neighborhood Housing Services in South Florida. Other benefits to scattered site rentals are that they help provide affordable housing and they can help build significant scale over time.
Organizations like Atlanta Neighborhood Development Partnership, Ithaca NHS, and Chelsea Neighborhood Developers have come up with ways to overcome scattered-site challenges. They recommend investing in standard building fixtures, following strict maintenance schedules, and contracting out for services like snow removal. Even with this helpful advice, management will be difficult, but considering the importance of single-family rentals in this market, it must be addressed.
Thanks to Brittany Stanley