Three Major Companies Own Over 19,000 Rental Houses in Metro Atlanta
In a ground-breaking investigation, researchers from Georgia State University (GSU) disclosed that three companies, namely Invitation Homes, Pretium Partners, and Amherst Holdings, own and control more than 19,000 rental houses in metro Atlanta, Georgia. This ownership accounts for nearly 11 percent of the total single-family homes available for rent in the region’s primary counties.
Findings from the Study
The comprehensive analysis was led by assistant professor in the Department of Geosciences at GSU, Taylor Shelton, alongside his collaborator, Eric Seymour from Rutgers University. The research found that these three corporate landlords hold a strong market grip, specifically in carefully selected neighborhoods. This concentration of property allows the companies to display significant financial influence over tenants and potential renters within the vicinity.
The study “Horizontal Holdings: Untangling the Networks of Corporate Landlords”, was recently published in the Annals of the American Association of Geographers, a leading journal in the field.
The Challenge in Property Ownership Transparency
Considering the current housing crisis that’s particularly evident in Atlanta, the influx of institutional investors into the rental housing market raises concerns about affordability, housing stability, and community resilience. Unlike traditional individual landlords, these corporate entities operate on a large scale, potentially impacting rental prices and housing availability in the area.
One of the key challenges highlighted by the study is the lack of transparency in property ownership, especially when it comes to corporate landlords. Unlike individual homeowners, corporate entities often have complex ownership structures and may not be as easily identifiable by tenants or policymakers. This opacity makes it difficult to assess the extent of their influence on the local housing market and to implement targeted policies to address any issues that may arise.
Implications for Housing Policy and Advocacy
The findings of the study underscore the importance of increased transparency and accountability in the rental housing market, particularly regarding the activities of corporate landlords. Policymakers, housing advocates, and community organizations need access to comprehensive data on property ownership to develop informed policies and interventions that promote affordable and stable housing for all residents.
Furthermore, the concentration of rental properties in the hands of a few corporate entities highlights the need for measures to protect tenants’ rights and ensure equitable access to housing. This may include initiatives such as rent control, tenant protections against arbitrary evictions, and incentives for the development of affordable housing options.
Overall, the research sheds light on an important aspect of the housing market in metro Atlanta and emphasizes the need for proactive measures to address challenges related to corporate ownership of rental properties. By promoting transparency, accountability, and tenant rights, policymakers can work towards creating a more inclusive and sustainable housing market for the community.
