Specialized online real estate marketplace Roofstock, which focuses on leased, single-family rental (SFR)homes, has expanded to San Francisco and Atlanta.
Rootstock allows property owners to avoid lost income which typically occurs when they have to wait for tenants to move before they can sell. Buyers benefit from purchasing an already-leased home that is also certified and professionally managed. Homes can be virtually toured and purchased on-line.
“Atlanta and the San Francisco East Bay are very active SFR markets, each representing different but compelling characteristics,” CEO and cofounder Gary Beasley said. “Atlanta properties offer higher current yields, and the Bay Area offers strong rental growth and appreciation potential given the region’s growing economy and supply constraints.”
Mr. Beasley explains Roofstock’s value proposition.
“What makes Roofstock unique is we are separating the investing and operational elements, so investors anywhere in the world can now diversify their portfolios with U.S. rental homes without worrying about the day-to-day management responsibilities.”
Ten percent of American households rent a single family home, making the SFR sector a $2 trillion and growing market. Average rents are on the rise as the economy improves.
Rootstock has also introduced a make-an-offer option and market-specific analyses to help buyers make appropriate purchases.
“Many of our charter customers told us they really liked the simplicity of our pre-negotiated price, but some buyers and sellers also wanted the ability to make or accept an offer on a property where the parties may be close in value,” Mr. Beasley said. “Starting today, we’re giving buyers an opportunity to submit offers on those homes where sellers are open to considering them.”