While New England is home to a plethora of postcard-perfect inns and bed and breakfasts, it's tough to top the charm, grace, and remote location of The Weston.
20 U.S. States With Most Investor Homes
06.12.2023 - 04:19 / skift.com / Srividya Kalyanaraman
Good morning! Is it a toasty Tuesday where you are? What’s on your calendar for this week? I am headed to London to moderate a panel on regulations at the Short Term Rentalz Summit tomorrow. Are you attending?
Onwards! In response to a surge in short-term rentals, British Columbia Premier David Eby has introduced legislation aimed at curbing “profit-driven mini-hotel operators.” The proposed measures include new enforcement tools to address the expanding market.
What would change: If the new regulations are enacted, residents of British Columbia would be legally restricted to renting out only their primary residence and one additional secondary suite as short-term rentals. It’s important to note that these restrictions do not constitute a complete ban on such rentals, and smaller municipalities are excluded from these provisions.
Stateside, we’re looking at one thing that might change communities: investor-owned homes.
Investor activity is particularly notable in Sun Belt markets with strong population and rental growth. In early 2022, 28% of home sales went to investors buying single-family homes. This increase in investor activity persisted even as owner-occupant purchases declined, research from Harvard University’s Joint Center for Housing Studies found.
Skift reached out to CoreLogic, which provides real estate data, to learn the leading states where investors were buying up single-family homes.
You can read the full story here, but here’s a quote that didn’t make it into the copy.
“The big-guy investor, who owns like 100 or more homes, are the ones who got out of the market recently,” said Thomas Malone, chief economist at CoreLogic. “But the small investors are the ones who have actually kind of stepped up to take their place. Overall sales are down, but purchases by big investors are down much more than by small investors.”
Malone’s larger point is: Don’t underestimate investors with fewer assets under management. In a recessionary environment, it’s better to have more small investors for their resilience.
A consortium of housing rental companies in Amsterdam and Utrecht, operating under the Fair Rent Foundation, is taking legal action against the Dutch state, contesting the impact of the WOZ-CAP regulation. That’s a rule that has reclassified many properties in the two cities as social sector housing, reducing potential rental income for landlords. The companies claim this has forced some to sell rental properties, limiting tenant options, reported. While the compensation sought remains undisclosed, the case highlights a pivotal moment in the evolving rental market, emphasizing the need for balanced regulations that consider both landlord profits and tenant affordability.
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