The Edge Magazine Vol. 8

As it turned out, Arizona—and its heat—was a perfect fit for the Finneys, who leased a house for six years until they decided that they wanted to make the move permanent. They discovered and committed to a home at The Havenly Fountain Hills before the houses were even built. "We've see it all come together from the ground up," said Claudia. "It feels like we built the place ourselves." In a post-pandemic real estate landscape with continually rising interest rates, spiraling inflation and an ever-growing housing shortage, the increase of single-family rentals isn’t surprising—and those demand-generating conditions will continue to have the attention of the real estate investment community. But the single-family rental has become more than a viable housing option. It’s a beacon of suburban space, comfort and ease, especially for those who now have the flexibility to work from anywhere, or for people seeking to buy a home—but can’t—due to an undersupplied housing market or because high mortgage interest rates have priced them out of the type of home they want. In some cases, single-family rentals are simply the next right step in life. Two years ago, Amy Schmidt packed up and sold her Rutherford, New Jersey home and moved in, temporarily, with her daughter in Scottsdale. A self described “Jersey girl,” Schmidt had retired after 33 years of employment with a major pharmaceutical company, and she was ready for something new and different. A master gardener, Schmidt fell in love with the natural beauty and walkability of Fountain Hills—and though she wanted to live in a house, she didn’t want to own one anymore. When she settled into her Havenly home a few months ago, she set out to walk, hike and explore the natural beauty of Arizona. “The nature is one of the reasons I moved out here,” she said. “Now, I just have to figure out how to grow a garden in the desert.” As for the Finneys and their two pups, they’re not leaving The Havenly anytime soon. “Why would we leave?” said Claudia. “We have everything we need here, and it sure is a heck of a view.”

We’ve seen it all come together from the ground up,” said Claudia. “It feels like we built the place ourselves.”

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