Build-to-Rent: Combining SFR and Multifamily Insights with Natalie Jones at RENU

[Tim Rose] I understand RENU is expanding its Build-to-Rent (BTR) capabilities. How does managing BTRs compare to scattered-site single-family rentals and multi-family rentals? Is it more similar to one? Can lessons from both be applied to BTR?

[Natalie Jones] Build-to-Rent really sits in the middle operationally - it borrows from both scattered-site SFR and multifamily, but it’s truly its own category.

We’ve been able to leverage the operational playbook we refined in the SFR sector: local boots on the ground across a wide footprint, supported by centralized systems and oversight. It’s a model built for scale - durable, distributed, and responsive.

From multifamily, we’ve drawn inspiration from site-specific branding and a more holistic approach to resident experience - thinking beyond the four walls of the home and into community-building.

But no matter the success seen from these legacy models, BTR requires its own infrastructure: leasing funnels built around flexible tour options, community-level marketing paired with house-level execution, and the persona of a local brand supported by full-scale property management.

It’s not a plug-and-play extension of either model. It takes its own playbook.

“It’s not a plug-and-play extension of either SFR or multifamily. It takes its own playbook.” 

– Natalie Jones, RENU

What lessons have you learned about marketing and lease-up in BTR? Where does most lead traffic originate? Do you market individual homes or the entire community? What visual content best markets the homes?

One of the biggest lessons: you have to market both the community and the homes. You can’t choose one over the other - and the balance shifts depending on where the community is in its lease-up lifecycle.

In newly launched communities, marketing should focus on storytelling. With few (or no) neighbors yet onsite, we lead with a community-first approach - emphasizing the lifestyle, the area, and the long-term vision. Tools like branded landing pages, interactive maps, and virtual staging help prospects imagine what life could look like, even before move-ins begin. Once engaged, they should seamlessly transition into exploring the specs and availability of individual homes.

In stabilized BTR communities, we shift to a unit-first focus. At this stage, you can internalize the community’s reputation into the description of each listing, allowing for more efficient marketing by spotlighting specific homes rather than reselling the entire community with every vacancy.

While most of our lead traffic originates from national rental listing platforms, what converts those leads is a cohesive prospect journey - one that connects the story of the community with the details of the home and is supported by an automated, scalable follow-up sequence.

Effective BTR marketing needs:

• A full suite of professional photography

• Consistent curb appeal across the inventory

• Self-tour integrations for easy conversion

• Automated follow-up with clear next steps

• And most importantly, a reason for the renter to believe this isn’t just another house, it’s a lifestyle upgrade.

"You have to market both the community and the homes. You can’t choose one over the other –it depends on the lease-up lifecycle."

– Natalie Jones, RENU

What trends are seen in renter preferences for BTR? Are specific amenities like clubhouses, pools, or dog parks popular? Why do renters choose BTR over scattered-site or multi-family?

Today’s BTR renter is looking for more home and more lifestyle for their money, and amenities are part of what makes that possible. Compared to what they could access in a traditional rental or via ownership, BTR homes often come with extras that feel aspirational but still attainable: more space, more privacy, and shared features that enhance everyday life without adding responsibility.

Popular amenities right now aren’t over-the-top. In fact, we’ve seen the highest engagement with:

• Walking trails and greenways

• Pavilion-style pools that double as social spaces

• Small dog parks or fenced private yards

These features support a lifestyle that feels active, low-maintenance, and elevated.

The real draw of BTR? Compared to scattered-site, it offers consistency and professional management. Compared to multifamily, it offers privacy, independence, and the feeling of a true home. And while a sense of community is certainly a nice surprise for many renters, it's not the primary driver - it’s a welcomed bonus, not the pitch.

When advising a client interested in BTR investment, what specific guidance do you give? Is there anything that surprises them? 

Our top advice? Design with operations in mind.

That starts with the unit mix and delivery phasing - but it also includes seemingly small details like how parking is laid out, where trash cans go, and whether there’s space for temporary signage or a short-term leasing presence. These operational choices directly impact your leasing momentum.

One thing that often surprises clients is just how quickly momentum can stall without a smart touring strategy and lead funnel in place from day one. It’s not enough to build it, you need a plan to activate it.

We also encourage clients to think differently about staffing. At RENU, we don’t default to placing a full-time onsite property manager. Instead, we centralize leasing operations with high-output teams, support flexible self-guided tours through an integrated app, and maintain a local field presence to handle in-person needs. This approach allows us to move faster, cover more ground, and convert more leads, without relying on a single individual to carry the funnel.