AMH CEO & CFO talk about the role it will play in America's housing landscape over the next 10 years
It's AMH 10th anniversary of its IPO. CEO David Singelyn and CFO Christopher Lau, join #NYSEFloorTalk's Judy Khan Shaw toΒ ...
Advisor, American Homes 4 Rent
Search every verified David Singelyn interview, podcast appearance, and on-the-record quote β each transcript cross-checked by AI and human review to confirm speaker identity. David Singelyn, CEO of American Homes 4 Rent, has stated that the company prioritizes the "human aspect" of natural disasters over assets, citing preparations for Hurricane Ian such as boarding up homes and creating safe places for employees. He said that for impacted tenants, the company would look for alternative housing or cancel their lease and return 100% of their security deposit. Singelyn also noted that the company assesses climate risk when acquiring properties and that it is "much better prepared" than it was five or ten years ago. Singelyn has described the single-family rental industry as "revolutionized" by professional management and said the company is "part of the solution" to the housing shortage by building homes that are "meaningfully less expensive to rent compared to homeownership." He attributed rising demand for rentals to factors including remote work and a desire for mobility, and stated that COVID-19 "accelerated" a pre-existing trend. Regarding interest rates, Singelyn said they impact the company's cost of capital but noted the firm has "tremendous liquidity" and an in-house development program. He described evictions as a "last resort" and said the company saw "relatively favorable collection results" during the pandemic.
“Over the last 10 years, our 1800 employees and many before that have really revolutionized and changed the single-family rental industry. Today, the single-family rental industry provides housing to hundreds of thousands of people who desire the rental product that we provide.”
“The quality of the asset has been significantly improved over those 10 years and the quality of the customer service has also been significantly improved through the professional management that American Homes has introduced into the single family rental sector.”
“In addition to continuing to create value for our shareholders through the development of really high quality Class A communities and great locations, today we're also part of the solution to helping solve the housing shortage in our country.”
“We're doing that by adding thousands of homes all across the country each and every year that as of today are meaningfully less expensive to rent compared to homeownership.”
“We have built a foundation to take what we have started and expand upon that. Today we own 60,000 homes and we are building 2,200 to 2,300 homes this year. We are going to be part of the solution of housing in this country going forward.”
“This country is undersupplied in housing; it needs more high quality housing options and that is our mission for the next 10 years.”
“We do look at where we are acquiring. We assess the climate risk in those areas, but we're also much better prepared today than we were five and ten years ago. We prepare with wood and other things to board up houses, and our people started looking at Hurricane Ian four, five days ago, boarding up homes and creating sa...”
“The capital markets today are very, very volatile. We're very fortunate we've got tremendous liquidity, and we continue to see strong demand for rentals. So it's a program that we have seen from the time that we started American Homes ten years ago. Demand continues to get stronger.”
“The rates are interest-sensitive stock as an asset class, so our cost of capital is going up, and that's going to impact our ability to continue to grow. We're very fortunate in the fact that we do have liquidity. We have a significant amount of retained capital, and we have an in-house development program that's alrea...”
“We first prioritize the human aspect of these disasters over the asset component. Tenants that are impacted, we'll look for alternative housing for them. If we do not have alternative housing, we will cancel their lease and ensure that they get 100% of their security deposit back in the next day or two.”
“It's more the production of homes for rentals, because this country is under supply in rentals. And today American Homes is building high-quality single family rentals as you can see in this community with conveniences and the amenities and the sense of community that our renters are looking for.”
“The investors have come back, they love the concept. We have people come to us because of the build-to-rent concept. There are $50 billion chasing build-to-rent in the last 24 months.”
“Real estate is an interest-rate sensitive industry and the value of real estate is inverse to the interest rate, so all of real estate is down. We have actually performed better in the last six weeks than the whole industry as a whole.”
“I spoke to a couple who just moved here, they had come from California. They simply didn't want to buy right now. They said it's the top of the market, didn't want to catch a falling knife.”
“Some millennials don't want to buy because they know the market's going to be difficult, they may not see the returns that they want. They also want the mobility.”
It's AMH 10th anniversary of its IPO. CEO David Singelyn and CFO Christopher Lau, join #NYSEFloorTalk's Judy Khan Shaw toΒ ...
Throughout Hurricane Ian, our teams mobilized to keep our residents safe. Our CEO David Singelyn spoke to CNBC's Diana OlickΒ ...
CEO David Singelyn discusses our build-to-rent program and current housing trends driving growth in the single-family leasingΒ ...
CNBC's Kelly Evans discusses the housing market, demand for single family home and more with CNBC's Diana Olick and DavidΒ ...
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