Rents of single-family homes in US to rise 5.7% this year

Los Angeles

THE largest US single-family home landlords plan to raise their rents as much as 5.7 per cent this year as they shift focus from buying properties to boosting their bottom lines.

"In the 2015 rental season, we're really seeing the ability to move rents," David Singelyn, chief executive officer of American Homes 4 Rent, the largest publicly traded single-family landlord, with about 35,000 homes, said at a conference in Miami Beach, Florida.