HUD said build-to-rent rental housing is eligible for Federal Housing Administration insured financing effective immediately, with the policy covering professionally managed single-family homes, duplexes or triplexes, including site-built and manufactured units. Qualifying projects must be developed on a single uninterrupted site and operated as a single property, and they can access the Section 221(d)(4) new construction program and the Section 223(f) acquisition or refinancing program.
Why it matters to multifamily marketers
BTR rentals compete with apartments for the same renters, so cheaper federal financing could speed up suburban build-to-rent pipelines that apartment marketers will soon be fighting for the same leads against.