Welcome to the neighborhoods.
For today’s renters, Next Chapter Neighborhoods offers an exciting, unique value proposition: all the comforts of owning a home, with all the convenience of renting.
Our thoughtfully planned developments provide the privacy and charm of single-family cottages, the warmth of a genuine community, and amenities and natural beauty that inspire good neighbors to create great neighborhoods.
They’re wonderful places to live. And we think they’re going to change what it means to rent a home.
Following the recession of the late 2000s, the world has changed, and the American dream has evolved with it. In the past, the “dream” meant buying a home and settling down for the long term. But in today’s mobile economy, lives and careers are more portable than ever, which makes home ownership—and the commitment it entails—less appealing.
According to the Urban Institute, 22 million new households will form between 2010 and 2030, and the majority (59%) will choose to rent instead of own. While the trend toward renting is particularly strong with members of the millennial generation, 60% of the growth in renter households will be driven by baby boomers reaching retirement age. For retirees, many of whom may currently own their homes, renting provides a way to unlock home equity for other investments, live closer to their grandkids, or simply get rid of the hassles and costs of home ownership. ¹ Finally, many prospective tenants are looking for units to share with roommates, not spouses: In 2012, 32% of adults were living with someone other than a spouse or partner—up from 26% in 2000.²
Many millennials want to live alone, but “together,” in a tight-knit, amenity-filled community where they can make friends and have fun. The same is true for their baby boomer counterparts, whose enthusiasm for renting is set to transform the rental market. Importantly, both groups are willing to pay for the things they want: Research shows that renters will pay from $37 to $447 above average rents to live in a place that truly meets their needs—and sense of community is often ranked as “the most important factor” driving renters’ fulfillment.³
With centralized community newsletters, places to gather and socialize, front porches, and weekly community events, Next Chapter neighborhoods make it easy and natural for residents to connect with each other and feel right at home. As a result, our tenants are happy. This translates into low renter turnover, which increases the development’s desirability among like-minded prospective tenants and helps the overall community thrive.
¹ National Multifamily Housing Council, “The Boomers Are Coming, The Boomers Are Coming,” 2015
² CNN, “The Latest Trend in Housing? Roommates,” November 5, 2014
³ Realty Times, “Renters Will Pay More for ‘Sense of Community,’” December 18, 2007
Sophisticated amenities meet Southern hospitality.
North Augusta, SC