2. 2
In a matter of weeks, NRHC members are able to
turn vacant, blighted structures into beautiful new
homes—ready for new residents to move into and
join local communities.
What seems like an impossible task can be a
seamless process, thanks to the professionalization
of the single-family rental industry.
Here’s how it works.
3. 3
43 MILLION
First, before ever purchasing a home, NRHC members
confirm that they have the right team and tools in place to
not only purchase and renovate their homes, but also the
capacity to lease, maintain and manage the properties with
the highest level of professionalism and proactive service.
5. 5
The majority of properties purchased by NRHC members
are acquired “post-foreclosure,” meaning that a bank or
mortgage servicer—not the NRHC member—has already
foreclosed on the home.
This is not the typical purchasing venue for first-time
homebuyers, as it requires that the home be acquired
“as is” and, because these homes typically don’t qualify
for mortgages, often need serious renovation and must
be paid for in cash.
6. 6
Homes are purchased individually, either during a
courthouse steps auction process or as standard MLS
(multiple listing service) purchases. NRHC members are
regular bidders among other parties willing to deal with
the associated risks of these types of sales.
Occasionally, NRHC members will purchase homes in bulk,
although this is a variation on their typical business model.
8. 8
Using standardized, comprehensive inspection processes,
NRHC members first assess what renovations need to be
made to bring each home to market.
The rigorous inspection processes employed by NRHC
members helps ensure the highest quality rental home
for a new family.
9. 9
Investments can vary by house, but it is typical to invest an
additional 10 percent (more than $15,000) of the home
value in renovations.
Often, renovations will include front yard work, new carpets,
painting and appliance replacement.
Local contractors are typically hired for renovations, who
in turn often hire local construction workers and use local
suppliers to purchase equipment and materials.
10. 10
Once the renovation process is complete, rehab teams use
extensive “punchlists” to conduct thorough evaluations of
each home. From trimmed yards to clear drains to live
outlets, rehab teams use these quality control measures to
ensure each and every home is in tip-top condition before
it is delivered as final to the leasing teams.
In most cases, NRHC members also use independent
auditors to confirm that each home is ready to be rented.
12. 12
Once each home passes the inspection process, it is
offered for lease. Our renters are families, students,
elderly and everyone in between.
NRHC members strive to prioritize existing residents or
prior residents, and honor leases where they already exist.
In many cases, the residents that rent NRHC member
homes are renting in communities they have already
lived in for many years.
13. 13
Renters typically stay in their properties for an average
of five years, resulting in stable communities and
neighborhood cohesion.
15. 15
Many of the service aspects of the management
process borrows heavily from the long-successful
multi-family management process, including using
licensed contractors, systems, accounting and
maintenance strategies.
16. 16
All of our members’ operations are managed by an
experienced team of property managers, leasing
specialists and other local operations employees. They
are backed by national platforms that offer the
advantages of institutional infrastructure, advanced
capabilities, financial stability and state-of-the-art
technology. This expertise helps ensure every home is
renovated, leased and maintained to the highest
standards.
