Scottsdale-based Taylor Morrison is offering residents of its built-to-rent brand Yardly up to $5,000 as a discount for a new home they can own outright.
An "up to $5,000" offer toward buying a Taylor Morrison home is featured prominently at the top of Yardly community websites, alongside other incentives for special rates, gift cards and a gas grill.
"We view this program as giving Taylor Morrison a leg up in offering this program to Yardly renters, knowing that most renters ultimately aspire to own a home," said Darin Rowe, president of Yardly, in a statement to Homes.com.
Taylor Morrison will agree to pay up to $5,000 for buyers who purchase one of its homes, from a new construction house to existing ones on the market. Taylor Morrison lists different criteria for a buyer to qualify for the incentive.
Rowe said this program was rolled out within the past year as a way to "inspire renters" toward homeownership. When asked how many have taken advantage to date, Rowe said the program is still in the early stages but has generated interest among renters.
Taylor Morrison has communities in 11 different states across the country, including Arizona, Florida, North Carolina and Texas — the four states in which Yardly has a presence. A qualifying Yardly renter can apply the Taylor Morrison home purchase discount at any Taylor Morrison community nationwide, Rowe said.
More in the pipeline
Yardly lists 35 communities on its website across the four states in which it operates. These BTR communities are made up of those that are leasing, pre-leasing and coming soon. But additional communities could be in development.
Last month, Taylor Morrison and Kennedy Lewis Investment Management entered into a $3 billion land and construction financing facility agreement to grow its BTR footprint through land acquisition and development.
The firm also continues to build its single-family home development pipeline, particularly in fast-growing cities in the Phoenix metro. According to CoStar data, Taylor Morrison bought nearly 150 acres in Buckeye from PulteGroup in July. That deal came three months after Taylor Morrison acquired 131 acres in Queen Creek in a deal with Crown West Realty.
Publicly held Taylor Morrison is the nation’s eighth-largest homebuilder based on 12,896 sales last year, according to Builder Magazine.
In its latest quarterly earnings call, Taylor Morrison reported its average closing price fell 2% to $589,000 and net sales orders dropped 12% to 2,733. Still, the builder's net income increased 4% year over year.
Taylor Morrison also said incentives are likely to increase during the rest of 2025, adding that personalizing the deals to each customer is best for the buyer and the company.