Did you know more rental residents live in single-family homes than in apartments, according to the National Multifamily Housing Council? Historically, real estate investors would buy houses and turn them into rental properties. Those houses, scattered throughout communities, often have “mom and pop” landlords. But now, a significant trend has emerged – building brand new homes, often entire neighborhoods of brand-new homes, expressly to rent the houses.
Built-to-Rent (BTR) accounted for 49,000 housing starts in 2020, according to the Census Bureau and Harvard University’s Joint Center for Housing Studies. The players include local home builders building and managing their portfolio of rental properties; land developers designing and managing new rental home neighborhoods wherein they hire local builders to construct the homes; and investors collaborating with both developers and builders to create communities of rental homes under professional management. Further fueling this movement, national (single-family) builders and large multi-family (e.g., apartment) builders, have entered the BTR market.
BTR already accounts for 4% of single-family housing starts, and is growing
As opposed to individual infill BTR opportunities, Build-to-Rent neighborhoods typically offer amenities on par with what new home buyers find in comparable for-sale communities. Such amenities, coupled with the desire for more space, attached garages, and no overhead neighbors, are attracting a cross-section of households. Childless renters are more found in multifamily dwellings, whereas families with children are much more likely to rent single-family homes. The realities COVID-19 ushered in for working from home liberated many people from the necessity to work in traditional office buildings. And the idea of leasing, paying for the use of (rather than owning) “new” made popular in automotive circles, has become a mindset for many
The 1642 sq. ft. Teglia Place is an efficient BTR design with amenities including its rear foyer entry and laundry connection to the Suite
An alternate layout (included) provides secondary bedroom walk-in closets instead of the ½-bath and walk-up closets.
Economics plays a key factor in the viability of BTR neighborhoods. While new for-sale homes come in all sizes and price points, there is a much more defined ceiling in terms of what most renters can afford. Currently, value-engineered, three-bedroom homes, approximately 2,000 square feet or less are most popular for BTR, and typically 45-feet wide or narrower. Buyers and renters alike are attracted to many of the same home design features and solutions. But interestingly, product selections differ somewhat in BTR houses. Exterior products, from roofing to siding to decks, as well as interior choices of flooring and other surfaces are looked at with an eye towards both increased longevity and lower maintenance in new BTR homes.
In our next newsletter, we dive into why renters prefer new BTR homes, followed by part 3 of this series, BTR advantages for home builders.
Photo: <a href='https://www.freepik.com/photos/people'>People photo created by yanalya - www.freepik.com</a>
Current Dir: /var/www/designbasics/
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Viewing: /var/www/designbasics/wp-cron.php
<?php
/**
* A pseudo-cron daemon for scheduling WordPress tasks.
*
* WP-Cron is triggered when the site receives a visit. In the scenario
* where a site may not receive enough visits to execute scheduled tasks
* in a timely manner, this file can be called directly or via a server
* cron daemon for X number of times.
*
* Defining DISABLE_WP_CRON as true and calling this file directly are
* mutually exclusive and the latter does not rely on the former to work.
*
* The HTTP request to this file will not slow down the visitor who happens to
* visit when a scheduled cron event runs.
*
* @package WordPress
*/
ignore_user_abort( true );
if ( ! headers_sent() ) {
header( 'Expires: Wed, 11 Jan 1984 05:00:00 GMT' );
header( 'Cache-Control: no-cache, must-revalidate, max-age=0' );
}
// Don't run cron until the request finishes, if possible.
if ( PHP_VERSION_ID >= 70016 && function_exists( 'fastcgi_finish_request' ) ) {
fastcgi_finish_request();
} elseif ( function_exists( 'litespeed_finish_request' ) ) {
litespeed_finish_request();
}
if ( ! empty( $_POST ) || defined( 'DOING_AJAX' ) || defined( 'DOING_CRON' ) ) {
die();
}
/**
* Tell WordPress the cron task is running.
*
* @var bool
*/
define( 'DOING_CRON', true );
if ( ! defined( 'ABSPATH' ) ) {
/** Set up WordPress environment */
require_once __DIR__ . '/wp-load.php';
}
// Attempt to raise the PHP memory limit for cron event processing.
wp_raise_memory_limit( 'cron' );
/**
* Retrieves the cron lock.
*
* Returns the uncached `doing_cron` transient.
*
* @ignore
* @since 3.3.0
*
* @global wpdb $wpdb WordPress database abstraction object.
*
* @return string|int|false Value of the `doing_cron` transient, 0|false otherwise.
*/
function _get_cron_lock() {
global $wpdb;
$value = 0;
if ( wp_using_ext_object_cache() ) {
/*
* Skip local cache and force re-fetch of doing_cron transient
* in case another process updated the cache.
*/
$value = wp_cache_get( 'doing_cron', 'transient', true );
} else {
$row = $wpdb->get_row( $wpdb->prepare( "SELECT option_value FROM $wpdb->options WHERE option_name = %s LIMIT 1", '_transient_doing_cron' ) );
if ( is_object( $row ) ) {
$value = $row->option_value;
}
}
return $value;
}
$crons = wp_get_ready_cron_jobs();
if ( empty( $crons ) ) {
die();
}
$gmt_time = microtime( true );
// The cron lock: a unix timestamp from when the cron was spawned.
$doing_cron_transient = get_transient( 'doing_cron' );
// Use global $doing_wp_cron lock, otherwise use the GET lock. If no lock, try to grab a new lock.
if ( empty( $doing_wp_cron ) ) {
if ( empty( $_GET['doing_wp_cron'] ) ) {
// Called from external script/job. Try setting a lock.
if ( $doing_cron_transient && ( $doing_cron_transient + WP_CRON_LOCK_TIMEOUT > $gmt_time ) ) {
return;
}
$doing_wp_cron = sprintf( '%.22F', microtime( true ) );
$doing_cron_transient = $doing_wp_cron;
set_transient( 'doing_cron', $doing_wp_cron );
} else {
$doing_wp_cron = $_GET['doing_wp_cron'];
}
}
/*
* The cron lock (a unix timestamp set when the cron was spawned),
* must match $doing_wp_cron (the "key").
*/
if ( $doing_cron_transient !== $doing_wp_cron ) {
return;
}
foreach ( $crons as $timestamp => $cronhooks ) {
if ( $timestamp > $gmt_time ) {
break;
}
foreach ( $cronhooks as $hook => $keys ) {
foreach ( $keys as $k => $v ) {
$schedule = $v['schedule'];
if ( $schedule ) {
$result = wp_reschedule_event( $timestamp, $schedule, $hook, $v['args'], true );
if ( is_wp_error( $result ) ) {
error_log(
sprintf(
/* translators: 1: Hook name, 2: Error code, 3: Error message, 4: Event data. */
__( 'Cron reschedule event error for hook: %1$s, Error code: %2$s, Error message: %3$s, Data: %4$s' ),
$hook,
$result->get_error_code(),
$result->get_error_message(),
wp_json_encode( $v )
)
);
/**
* Fires when an error happens rescheduling a cron event.
*
* @since 6.1.0
*
* @param WP_Error $result The WP_Error object.
* @param string $hook Action hook to execute when the event is run.
* @param array $v Event data.
*/
do_action( 'cron_reschedule_event_error', $result, $hook, $v );
}
}
$result = wp_unschedule_event( $timestamp, $hook, $v['args'], true );
if ( is_wp_error( $result ) ) {
error_log(
sprintf(
/* translators: 1: Hook name, 2: Error code, 3: Error message, 4: Event data. */
__( 'Cron unschedule event error for hook: %1$s, Error code: %2$s, Error message: %3$s, Data: %4$s' ),
$hook,
$result->get_error_code(),
$result->get_error_message(),
wp_json_encode( $v )
)
);
/**
* Fires when an error happens unscheduling a cron event.
*
* @since 6.1.0
*
* @param WP_Error $result The WP_Error object.
* @param string $hook Action hook to execute when the event is run.
* @param array $v Event data.
*/
do_action( 'cron_unschedule_event_error', $result, $hook, $v );
}
/**
* Fires scheduled events.
*
* @ignore
* @since 2.1.0
*
* @param string $hook Name of the hook that was scheduled to be fired.
* @param array $args The arguments to be passed to the hook.
*/
do_action_ref_array( $hook, $v['args'] );
// If the hook ran too long and another cron process stole the lock, quit.
if ( _get_cron_lock() !== $doing_wp_cron ) {
return;
}
}
}
}
if ( _get_cron_lock() === $doing_wp_cron ) {
delete_transient( 'doing_cron' );
}
die();
