National homebuilder offers for-rent homes as
unique alternative to traditional apartments
SCOTTSDALE, Ariz., Nov. 14,
2022 /PRNewswire/ -- As one of the first national
homebuilders to venture into the build-to-rent market three years
ago, Taylor Morrison is continuing
its commitment to the space with an unveiling of its new brand
name, Yardly™. Specializing in cottage-style, for-rent homes with
private backyard space, these communities inspire residents to
Live boundlessly™.
"There is so much to be excited about in the emerging
build-to-rent space, but above it all is the opportunity to serve
more consumers—at each stage of life—by building a home that's just
right for their lifestyle," said Chairman and CEO Sheryl Palmer. "With Yardly, we add renters to
our lineup of consumers and offer them a unique alternative to
traditional, vertically constructed apartments."
Yardly blends the best of single-family home and traditional
apartment concepts by drawing upon Taylor
Morrison's production-builder strengths and
consumer-preference knowledge to create a diverse, niche housing
product for the largely under-served consumer segment of renters.
These communities typically consist of single-story, one- and
two-bedroom homes ranging from approximately 700 to 1,100 sq. ft.
and offer low-maintenance living and smart-home technology. But the
true differentiator lies in the private backyards complete with
doggy doors perfect for pets and outdoor living—serving as the
inspiration for the brand name.
"Compared to multi-story apartment complexes, our Yardly
communities ensure you no longer need to walk your dog on a leash
in pajamas each morning," said Taylor
Morrison's Build-to-Rent President Darin Rowe. "No more carrying groceries up
staircases, and no more noisy neighbors above or below you."
Taylor Morrison is currently
sourcing build-to-rent land in nearly half of its operating
markets, including Phoenix,
Dallas, Austin, Houston, Orlando, Tampa, Sarasota, Jacksonville, Charlotte and Raleigh. In total the homebuilder is actively
involved in developing approximately 15 projects in its collective
markets with many other communities in review.
"As the inflationary environment and rising mortgage rates
create a strain on some consumers' ability to buy, particularly
first-time buyers without equity in an existing home, the
opportunity to serve both the renter-by-choice demographic and
those impacted by affordability challenges has only grown
stronger," said Palmer.
Meeting the demand for this emerging housing model creates a
unique pathway to introduce more customers to the quality and
integrity of a Taylor Morrison
community. "Increased brand awareness can translate to brand
affinity as customers convert from Yardly renters to Taylor Morrison homeowners, and even back to
Yardly again as their lifestyle or preferences evolve," added
Rowe.
Taylor Morrison is fully
committed to the continuation of its build-to-rent business under
its new brand name, Yardly, following the conclusion of its
licensing agreement with Christopher Todd Communities. All future
Taylor Morrison build-to-rent
community openings will be branded under the Yardly name.
About Taylor
Morrison
Headquartered in Scottsdale, Arizona, Taylor
Morrison is one of the nation's leading homebuilders and
developers. We serve a wide array of consumers from coast to coast,
including first-time, move-up, luxury and resort lifestyle
homebuyers and renters under our family of
brands—including Taylor Morrison, Esplanade, Darling Homes
Collection by Taylor Morrison and Yardly. From
2016-2022, Taylor Morrison has been recognized as
America's Most Trusted® Builder by Lifestory Research. Our strong
commitment to sustainability, our communities, and our team is
highlighted in our latest Environmental, Social, and
Governance (ESG) Report on our website.
For more information about Taylor Morrison, please
visit www.taylormorrison.com.
CONTACT: Erin Kristick
(480) 840-8108
ekristick@taylormorrison.com
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SOURCE Taylor Morrison