- The country’s second-largest builder of for-sale homes will begin renting out new, single-family houses this weekend.
- Lennar’s community in Sparks, NV, will feature 80, two- to four-bedroom new homes, ranging in size from 1,210 to 2,182 square feet, that will be leased, not sold, to the occupants.
- In a press release, northern Nevada Division President Dustin Barker said he is “thrilled to now enter the rental market.”
Lennar CEO Stuart Miller told investors last year that “single family development for rent might become a part of our portfolio going forward” if first-time buyers continued their sluggish entry into homeownership.
A year earlier, the company announced it would develop $1 billion worth of multifamily properties to capitalize on the growing demand for rental apartments.