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43 Follow Us At: @DSNewsDaily Industry Updates TAYLOR MORRISON UNVEILS NEW BUILD-TO-RENT BRAND OPERATION As one of the first national homebuilders to venture into the build-to-rent market three years ago, Taylor Morrison is continuing its commit- ment 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. "ere 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," Taylor Morrison Chairman and CEO Sheryl Palmer said. "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. ese communities typically consist of sin- gle-story, one- and two-bedroom homes ranging from approximately 700- to 1,100-square feet 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—serv- ing as the inspiration for the brand name. "Compared to multistory apartment complexes, our Yardly communities ensure you no longer need to walk your dog on a leash in pajamas each morning," Taylor Morrison's Build- to-Rent President Darin Rowe said. "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 with- out 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," Palmer said.