OwnAmerica Closes $16.9 million SFR Transactions in September

CHARLOTTE, N.C., Oct. 3, 2016 /PRNewswire/ -- OwnAmerica, a pioneer in bringing technology and services to the professional Single-Family Rental (SFR) market, announced today it has closed $16.9 million of single family rental (SFR) portfolio transactions in September.  The transactions involved 179 units in Phoenix, Dallas, Charlotte, Orlando and Atlanta. 

"We are seeing an increase in the volume of SFR portfolio transactions, as both property owners and investors recognize the value and efficiency of buying and selling occupied rental properties," said Greg Rand, CEO of OwnAmerica, "Everyone in the commercial real estate business understands the value of selling and buying commercial property with tenants in place, but this is a relatively new phenomenon in residential rental property." 

OwnAmerica estimates that sellers lose 8-12% of the value of their properties in "friction costs" when they vacate them before the sale. Friction costs include lost income due to down time for repairs and marketing time. OwnAmerica research shows that by allowing the tenants to stay in place both the sellers and buyers can achieve a better financial outcome.

Founded in 2010, OwnAmerica has been part of the effort to institutionalize Single Family Rentals, America's largest asset class. The company created tools and online markets for institutions to buy and sell performing SFR properties and has trained and certified more than 4,000 real estate agents to service SFR clients. Now those tools, technologies and professional services are being offered to investors at every level. OwnAmerica.com now offers free portfolio analysis to SFR owners and a private marketplace to buy and sell rental homes.

SOURCE OwnAmerica

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http://www.ownamerica.com