The Rise of Single-Family Rentals
Single-family rentals (SFRs) are no longer a niche market. They now make up around one-third of all rental housing in the United States, according to the Urban Institute. That means more than 20 million homes fall into this category. Families are choosing rentals for more space, flexibility, and affordability. Investors are drawn in because these homes provide steady income.
But the way these homes are managed has not always kept pace. Many landlords rely on small local property managers. These companies often have inconsistent practices. Tenants can have very different experiences depending on who runs the property. Investors can feel left in the dark about what’s happening with their homes.
This is where new players are changing the rules. One of the clearest examples is Mynd Property Management.
Founders with a Vision
Doug Brien and Colin Wiel launched the company in 2016. They had first-hand experience in the rental industry. Brien co-founded Waypoint Homes years earlier. That company grew into one of the first large-scale single-family rental investors. He saw the problems up close.
“We were running thousands of homes, but management systems were all over the place,” Brien recalled. “It felt like trying to fly a plane with no instruments. You didn’t know if things were working until something broke.”
Wiel, an engineer by training, looked at the challenge as a design problem. “If you think of every rental property as a node in a system, you can standardise the way it works,” he said. “That’s how you build consistency across cities.”
Together, they set out to make property management work like a connected network rather than scattered local shops.
Why Scale Matters
Scale gives SFR companies an edge. With more homes under management, they can spread out costs, improve processes, and build stronger teams. Investors benefit because they get steady results. Tenants benefit because service is more reliable.
Data shows how big this opportunity is. The SFR market is valued at more than $4 trillion. Large investors have bought hundreds of thousands of homes since the 2008 financial crisis. But the majority of SFRs are still owned by small landlords. They often struggle to keep up with maintenance, leasing, and communication.
This mix creates a gap. Big demand but weak infrastructure. That gap is what Mynd saw as its chance.
Building Trust for Remote Investors
A growing number of rental property investors don’t live near the homes they own. They might be based in New York but own in Dallas. Or live in San Francisco but buy in Phoenix. They need managers who can give them confidence without constant travel.
“Coverage and communication are the key,” said Brien. “Investors should feel like they can check in at any time and know their homes are being taken care of. No surprises, no scrambling.”
Mynd built its model around this. Local staff handle day-to-day issues. Central systems track leasing, rent payments, and maintenance. Investors get updates in real time.
For one landlord in Houston, the difference was clear. “Before, I never knew if rent was late until weeks had passed,” he said. “Now I can see it right away and trust someone is on it.”
The Tenant Experience
For tenants, consistency matters just as much. Families want reliable repairs, clear communication, and fair leasing practices. If a home is managed poorly, they move out. That costs investors money and disrupts communities.
Wiel explained it simply: “A good tenant doesn’t want to leave. But they need to feel like the home is cared for. When we respond quickly and treat people with respect, everyone wins.”
Tenant retention is one of the biggest cost savers in the rental business. Industry research shows that turnover can cost landlords up to $5,000 per unit when factoring in lost rent, repairs, and marketing.
Better management reduces turnover. That’s why SFR companies are paying more attention to tenant needs.
The Roofstock Merger
In 2022, Mynd Property Management joined forces with Roofstock, another leader in the SFR space. Roofstock had built a marketplace where investors could buy and sell rental homes online. Mynd brought in the operational side — the property management.
“It’s like connecting the front and back of the house,” said Brien. “Roofstock helps people acquire the homes. Mynd keeps them running. Together, it creates a smoother journey for investors.”
This merger was a sign of where the industry is heading. SFR platforms are no longer just about owning homes. They are about offering an end-to-end service.
Challenges Ahead
The rental market faces hurdles. Housing affordability remains a concern. Some critics say institutional investors make it harder for first-time buyers. Regulations are also tightening in some states.
But Brien believes professional management is part of the solution. “If homes are going to be rentals, we should make sure they’re managed well,” he said. “That means better outcomes for tenants and stronger communities.”
Recommendations for Investors
For people interested in SFR investing, there are a few clear takeaways:
- Choose consistency over convenience. Work with managers who have proven systems.
- Look at tenant retention. A manager who keeps tenants happy will save you money.
- Pay attention to scale. Larger operators can often provide more reliable service and lower costs.
- Stay informed. Use tools and managers who give you real-time updates, not monthly surprises.
Recommendations for Communities and Tenants
For renters and local leaders, there are also lessons:
- Demand accountability. Ask landlords for clear points of contact and fair lease terms.
- Encourage professionalism. Support operators who bring standards and transparency.
- Recognise the role of rentals. With so many households renting, well-managed SFRs help neighbourhoods stay stable.
Looking Forward
The future of SFRs is about structure and trust. Investors want to grow wealth without constant stress. Tenants want homes that feel stable and cared for. Communities want housing that adds value rather than uncertainty.
Companies like Mynd are pushing for that balance. By merging scale with human service, they are setting new standards in property management.
As Wiel put it: “People need homes. Investors need confidence. If we can bridge the two, the whole system works better.”
