The National Rental Home Council, a trade group made up of single-family rental home owners and operators, announced this week that it elected a new executive leadership team.
The group was founded in March 2014, with a goal of increasing education about the professionally managed single-family rental industry and advocating for the benefits brought by the sub-sector of today’s estimated billion-dollar rental market.
The founding members of the group were the four largest operators at the time: Colony American Homes, Invitation Homes, American Homes 4 Rent, and Starwood Waypoint Residential Trust.
But since then, the group’s membership has seen a series of consolidations that took the big four to a big two.
A few years ago, Starwood Waypoint Residential Trust merged with Colony American Homes to form Colony Starwood Homes, which later changed its name to Starwood Waypoint Homes.
Then, last year, Starwood Waypoint and Invitation Homes merged to create the nation’s largest owner and operator of single-family rental homes.
Other consolidations helped build new massive players in the space. Last year, Tricon Capital Group, the parent company of Tricon American Homes, acquired Silver Bay Realty Trust in a $1.4 billion deal.
And despite those consolidations, the National Rental Home Council has actually seen its membership grow from those first four members to almost 30 currently.
Now, the trade group is naming a new board of directors, all of whom come from the largest single-family operators.
According to the group, its 2018 executive board includes the following members:
- President of the Board – Kevin Baldridge, President, Tricon American Homes
- Vice President – David Singelyn, Chief Executive Officer and Trustee, American Homes 4 Rent
- Secretary – Dana Hamilton, Head of Real Estate, Pretium Partners (Progress Residential)
- Treasurer – Fred Tuomi, Chief Executive Officer and Director, Invitation Homes
- President Emeritus – John Bartling, Former President and Chief Executive Officer, Invitation Homes and Former President, National Rental Home Council
“Each member of the Executive Board brings to the table extensive experience and a unique perspective of the housing industry. I'm excited to serve this group as President,” Baldridge said.
“Together we will build on the advances the NRHC has made thus far,” Baldridge added. “We will continue to enhance the services we offer the industry, and serve the residents that live in our high-quality homes and communities across the nation.”
Diane Tomb, who became executive director of the NRHC in 2016 and was honored as a HousingWire Magazine Woman of Influence in 2017, touted the strength of the group and its new leadership.
“As the single-family rental industry continues to grow and mature, so does the NRHC. When our association launched in 2014, we had just four members. Today, we have nearly 30 members from all sectors of the industry: owner/operators, vendors, service provider, analysts and legal consultants – and we are continuing to grow,” Tomb said.
“This is an exciting time and I look forward to working with our new leadership team to continue to tell the story of the positive impact that the professionally managed single-family rental home industry is having on our neighborhoods and communities,” Tomb added.
