Inspiring a New Way to Rent: Branden Lombardi of BB Living | John Burns Real Estate Consulting

Inspiring a New Way to Rent: Branden Lombardi of BB Living



How many car manufacturers are in there in the world? You probably can’t name them all, but you definitely know names like Lamborghini and Tesla. In the second episode of our three-part series on build-for-rent (BFR), Branden Lombardi, President of BB Living, joins us to share how his company has branded itself as the “best in class” within the BFR world. BB Living prides itself on being the “Toll Brothers equivalent” of the BFR sector—which is fitting, as the two are partners. Keep reading below for some of the episode’s key highlights.

What differentiates BB Living

  • BB Living differentiates itself based on location and high-quality product. Its communities are in the best locations within the most desirable markets.
  • The resident experience is a top priority. A “lock-and-go” lifestyle takes the burden of home maintenance off residents’ shoulders so they can Simply Live More.
  • Amenity packages are not one-size-fits-all. Amenities should be customized for product, location, and lifestyle.

You might rent in a BFR community if:

  • You want to try out a new area before committing to buying a home.
  • You’re going through a transitionary period while waiting for a new home to be built.
  • You don’t have the funds for upfront costs associated with home buying (e.g., down payment, furniture).
  • You want to live in a more pet-friendly environment. (Sorry, apartments, a dog-washing station doesn’t make up for a backyard.)
  • You want a more low-maintenance lifestyle.
  • You want to seize the opportunity to live in a brand-new home.

Looking towards the horizon

  • Branden expects that eventually a BFR component will be standard practice in master-planned communities.
  • High land values and labor/material constraints will be driving forces of continued rent growth.
  • Rising interest rates will increase rental demand.
  • Currently, there’s a mad dash to get into the hot and trending BFR space. This excitement will settle down as the space matures.


For a full transcript of this episode, click here.

 

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Dean Wehrli If you have any questions about our podcast, please contact Dean Wehrli, Principal at (916) 647-3263 or by email.
Shelly Chen If you have any questions, please contact Shelly Chen, Consultant at (916) 753-4631 or by email.