All articles tagged with #corporate landlords
Republicans and Democrats back a sweeping housing bill that would streamline environmental reviews, speed up construction, modernize factory-built homes, and bar large investors from buying more single-family homes, in a bid to ease a 60% price rise since 2019 and a roughly 4-million-home shortage ahead of elections.
A report by Human Impact Partners highlights how corporate landlords' practices, such as raising rents and neglecting maintenance, are adversely affecting tenants' health, leading to issues like anxiety, depression, and shorter life expectancies. The study underscores the disproportionate impact on communities of color and low-income renters, and calls for regulatory measures to curb the influence of institutional investors in the housing market.
U.S. renters are taking corporate landlords to court, alleging the use of software to deliver inflated rent hikes. Tenants at Portside Towers in New Jersey are involved in a class-action lawsuit against RealPage and 34 co-defendant landlords, with the U.S. Department of Justice filing a statement of interest in the case. The software, according to tenants, eliminates empathy and sets artificially high rents, leading to allegations of antitrust violations. RealPage claims its tools use anonymized data and increase landlord revenues, but tenants argue they discovered the software's impact after reading a 2022 ProPublica investigation. Meanwhile, asking rents in the U.S. have ticked down, but well-located landlords on the East Coast may still have pricing power.