This week a small Tampa, Florida-based builder, ERC Homebuilders, is launching a "soft" IPO, hoping to raise $100 million to build more than 1,000 rental homes across the state. It is offering investors private shares using Regulation A+, a form of investment crowdfunding that allows small companies to raise limited funds from the general public. Accredited and nonaccredited investors can participate.
The only operating expense for landlords is the landscaping. In addition, the rents for single family are growing fast at 4.5% annually now compared with 3% rent growth for multifamily apartments, according to John Burns Real Estate Consulting. There is also much less turnover in single-family rentals, and the rental market is much less volatile than the home sales market.
I am writing this letter to inform you that I am transferred from Edinburg to Malinda Valley. I am to report there on 1st of the next month. According to our agreement, I had to give a prior notice of 30 days before leaving the house. So this is my formal notice. I also want to request you that my advance money is returned to me on the above date because it will be very difficult for me to collect that afterwards. I hope that you will accept my notice and will give my advance money back on time as per contract.
I am writing this letter to inform you that I am transferred from Edinburg to Malinda Valley. I am to report there on 1st of the next month. According to our agreement, I had to give a prior notice of 30 days before leaving the house. So this is my formal notice. I also want to request you that my advance money is returned to me on the above date because it will be very difficult for me to collect that afterwards. I hope that you will accept my notice and will give my advance money back on time as per contract.
Due to the high price of real estate in Sri Lanka, rental properties are a more convenient alternative for many. Expats find a house for rent in Sri Lanka a cheaper option compared to houses for sale in Sri Lanka due to tax reasons. Vacation rentals are on a short term basis and ideal for tourists. But those who move to the country for the long term can find fully furnished houses with a range of facilities in highly residential areas. Air conditioned bed rooms are important, especially due to the tropical weather and hot summer days. Rent in Sri Lanka varies based on the location. In the city centre the average price of a single story, 1 bedroom house for rent is likely to be Rs. 40-60,000 while outside the city centre the rent is much lower between Rs. 15-25,000. A 2 to 3 bedrooms’ house is ideal for an average family with dining and living rooms, house located close to local amenities. The surrounding facilities also affect the house rent.
"I think that these funds, these investor groups are looking at a cultural move away from your garden apartment with elevators, swimming pools, tennis courts and common areas," Ellenburg said. "Homeownership is looking less desirable to some, particularly in the affordable arena, and they have a chance, for very close to the same price, to rent a three-bedroom, two-bath or a four-bedroom, three-bath home and are able to call it their own."
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