Leading The Way In A Changing Industry
Nearly 39 million people live in apartments, and the apartment industry is quickly exceeding capacity. (Source: National Multifamily Housing Council)
Today’s renter is looking for something other than an apartment complex that doesn’t offer privacy or their own backyard. And while single-family homes can provide these features, they typically come with more upkeep and maintenance issues than renters want. Christopher Todd Properties has created an intriguing combination of the two. These communities are comprised of single-story one- and two- bedroom rental smart homes with private backyards and doggy doors. Each smart-gated community has amenities such as resort-style pool, state-of-the-art fitness center and yoga studio, event lawn and pocket parks. We are truly creating “A New Way To Live.”
An estimated 28 percent of rentals are single family homes. And of those, only two percent are owned by institutional investors. (Source: Meyers Research) Christopher Todd Properties sees that as a business opportunity.
Christopher Todd Communities has shown incredible lease up velocity for all three communities that are open and now at stabilization. In some communities we are seeing 2 -3x faster lease up than industry averages throughout the Phoenix Market. We attribute this to the innovative single family professionally managed rental smart home concept”
— John Carlson President
Mark-Taylor Residential An Arizona firm that manages Class A Properties throughout Phoenix and for Christopher Todd Communities.
Change is in the air
There has been a significant shift in the housing market. For the second decade in a row, rental home demand will exceed own-homed demand, according to demographers. As Millennials are waiting longer before purchasing their first homes and Baby Boomers are looking to downsize, the single-family rental market is gaining momentum.
Christopher Todd Properties is keenly aware of this trend and we believe that given the option of renting a single-family home in a planned rental community versus leasing in a traditional apartment complex, the decision is easy. Our renters get the privacy of a technology-forward single-family home with a beautifully-landscaped backyard in a gated community designed specifically for their needs.
7.2 million new renters nationwide from 2009 to 2016
(Source: Census Bureau,
Bureau of Labor Statistics)
41% of Phoenix residents are renters
Phoenix Market Growing at 2x National Average
- Strengthening market fundamentals appealing to investors
- Construction sector benefits from expanding multifamily pipeline
- Despite high completion rates, average occupancy rose 95.3 percent
- Rents up 6.6 percent year-over-year