28 Oct Letter From the CEO: IHS Good Neighbor Program
Single-Family Investors play a meaningful role in revitalizing HOA communities throughout the country. They stopped the bottom from falling out of the housing market as they began to build their portfolios in 2009. They have employed thousands of contractors including landscapers, painters, and roofing companies. They have stabilized communities not only with asset values, but also extensive clean-up efforts, as well as purchasing equipment and supplies for the community. Many organizations are socially conscious, pulling together disaster relief efforts, backpack campaigns at the beginning of the school year, scholarship programs, and community outreach programs.
Given all of the positives, why are we in a situation where master planned communities are not single-family investors’ biggest fans? Let’s first start by exploring why communities are concerned. They feel that Tenants mean that they will have transient populations, loss of the sense of community, increased tenant compliance issues, lending concerns, perceived decline in property values, and increased liability insurance rates. On the flip side, why did investors choose to buy in master planned communities? Many investors identified that assets within master planned communities provided positive yield models as well as asset protection. A strong HOA can increase asset value by acting as the eyes and ears of the Investor, providing inspections, patrolling their communities, and ensuring that value is protected over time with detailed Covenants, Conditions, and Restrictions.
In an article published by the National Rental Home Council, “Many renters choose that option for the flexibility and affordability, and single-family rental offers the benefits of homeownership to a wider population of Americans. A vibrant housing market is one that provides all Americans with as many quality options as possible – renters are an important piece of this equation and deserve the same support and choice as homeowners. Single-family rental is a vital and growing segment of the housing market that offers millions of American families access to quality housing choices.”
IHS is here to bridge the existing communications gaps with our Good Neighbor program. We are reaching out to communities throughout the country to highlight how single-family Investors are a positive and growing presence in the community. The reality is, single-family rental organizations play a meaningful role in revitalizing HOA communities, they provide neighborhoods with engaged tenants, much-needed property renovations, and stability. The end result? Better looking neighborhoods, happier and more compliant renters, far less unpaid fines and improved communications.