Thursday evening Avilla Homes, which builds homes to lease to residents, opened its first all leased neighborhood in Texas.
These new homes in Plano, Texas are set inside a community, like apartments, but set apart like single-family homes and even include a small backyard space.
“This is an incredible and unique environment and I think a lot of people are going to like it,” said Josh Hartmann, NEXmetro Communities chief operating officer.
NexMetro and its affiliated companies have been developing Avilla Home neighborhoods since 2010, and attended the grand opening in the Dallas area.
The homes range from about $1,200 per month for a one bedroom home to about $2,000 for a three bedroom. Here are a few photos from the inside of the new leased homes:
HousingWire readers saw in April edition that building to rent is becoming a growing trend across the U.S. Many builders lease the homes themselves, or sell them to investors to lease them.
Critics argued, however, that this practice is squeezing the already tight inventory available for sale, which recently sank to a new low.
But Hartmann explained that isn’t a problem. “People are going to live where they’re going to live,” he said.
He explained leased homes are not competing with single-family homes, but catering to an altogether different demographic. Hartmann explained too many people get caught up in what they want, but emphasized that not everyone wants the same thing.
Here are some photos from the neighborhood’s grand opening and ribbon cutting ceremony.
