JAMESTOWN, N.C.–Many residents in Guilford County are concerned about American Homes 4 Rent, an out-of-state company that is buying houses locally, and turning them around for rent.
While local realtors say it’s helping the real estate market, neighbors are worried about their property values.
“It makes the neighborhood look run down, like we don’t care about out neighborhood,” said Lisa Fouts, a Jamestown resident.
Fouts says American Homes 4 Rent purchased the house across the street in her neighborhood.
“You never know with the rental properties, how they’re going to respect or treat their home,” Fouts said.
About five other homes near Fouts have been purchased by American Homes 4 Rent, based out of Malibu, California.
135 properties in Guilford County have been purchased in the last month for rent by the same company.
Mark Saunders is a board member on the Winston-Salem Home Owners Association and says out-of-state rental home owners are good for the economy.
“They are going to create jobs, and have some work for workers in the community that are going to fix these houses up,” Saunders said.
He says renting helps the real estate market in general.
Saunders says local property managers are usually hired to keep a close eye on the properties, to make sure Fouts and other concerned residents won’t have to worry about rental eyesores lowering their property value.