When Marcus Hiles first launched Western Rim Property Services in the 1980s, he discovered an opportunity to appeal to the then-ignored luxury rental segment of the Texas real estate market. Driven by a vision for affordable luxury living, he desired to build in suburbs that were located near the state’s largest urban centers. Riding a wave of unprecedented population growth and changing trends in home ownership, Hiles’s plan for expansion revolutionized and completely modernized the housing market around the Lone Star State’s most popular urban centers. By offering resort-style amenities to an ever-rising number of renters, his unique concept continues to attract those seeking to enjoy city life without ever moving downtown. With its open spaces and incredible natural scenery, highly rated schools and nearby fine dining, entertainment and shopping, Marcus Hiles fully supports future suburban developments.
Marcus Hiles remarks that the prominent similarity between Dallas, New York and Los Angeles is that all of them have observed a rising trend in renters; even though initially it might appear that the only similarity they possess is that all three feature in the list of top ten largest towns in the U.S. The rise of renters is seen across the whole nation, with renters likely to increase to half of a million steadily till 2023. Even in Dallas, more than half, i.e. 55.9% of the residents are renters. Although tenants may have to bear higher annual costs than homeowners, the amount of money owners need to pay on maintenance and utilities is much higher.
When renters consider a prospective apartment’s cubic footage in addition to square footage, they will discover other advantages of properties with higher cubic footage. Apartments with higher ceilings, for instance, may have doors which are taller than standard 6-foot, 8-inch models, as is the case with Western Rim’s upscale properties in the North Dallas suburbs. “Our eight-foot doors make our rentals feel like custom single family homes rather than small apartments,” Marcus Hiles notes. If features like these are top of the line, it is likely that other aspects of the space – from countertops and lighting to appliances and molding – have also been upgraded.