Bloomberg Markets: Promise Homes Acquisitions Create Lane for Affordable Home Rentals
For many, renting a home is a significant achievement that brings high levels of satisfaction and stability. The joy of having a place to call your own and the freedom to create an environment conducive to rest, relaxation, and raising a family is highly sought after by many Americans. As the economy continues to improve, the price of home rentals continues to trend upward across the country. The rising cost of acquisition has proven to be a substantial challenge to investment firms which creates a barrier of entry for families seeking to plant their roots in a home of their own.
Enter Promise Homes.
Where Wall Street sees obstacles, Promise Homes sees opportunity. Promise Homes, an Atlanta based home rental startup, recently purchased a substantial number of investment properties in and around metro Atlanta. This company seeks to fill a void with a purpose — helping low income and struggling families find quality homes at an affordable price.
While similar companies have taken advantage of Wall Street’s waning interest in real estate aimed at low-income families, Promise Homes’ business model sets them apart from others in the field. The company wants to do more than put its clients in quality, affordable housing, they want to see individuals and families become financially stable and secure. Through a partnership with Operation HOPE, Promise Homes will offer credit and money management courses to its tenants and provide performance-based incentives tied to monthly, on-time payments to encourage fiscal responsibility.
As a company that promotes purpose over profit, Promise Homes is laying a firm foundation on which hundreds of families can build.
To read more on Promise Homes recent acquisitions and developments, read Bloomberg’s Wall Street Snaps Up Cheap Single-Family Rentals