Impact of corporate landlords on Atlanta metro housing crisis, 3 firms own 11% of rental houses across several metro counties

A concerning development has been identified in Atlanta’s housing market, particularly regarding the influence of Wall Street hedge funds on the affordability and availability of homes.

Recent research conducted by Taylor Shelton and Eric Seymour, housing experts from Georgia State University and Rutgers University, respectively, has uncovered a troubling trend. Three major corporations, Invitation Homes, Pretium Partners, and Amherst, are found to have a stake in nearly 11% of single-family rental homes across Fulton, Clayton, DeKalb, Gwinnett, and Cobb counties. The research indicates that these companies collectively own approximately 19,000 rental houses in the core counties of metro Atlanta, concentrating their holdings in specific neighborhoods. This concentration grants them significant market power, influencing tenants and renters profoundly. Furthermore, their use of an extensive network of over 190 corporate aliases across multiple states adds complexity, potentially shielding them from liability in case of legal actions by tenants.

Georgia’s rental market has become an attractive proposition for corporate investors due to a lack of tenant protections, allowing them to operate at a speed and scale that significantly impacts housing prices. The urgency of their purchasing power can make it challenging for first-time homebuyers to enter the market.

This revelation echoes the findings of the Atlanta Journal-Constitution’s 2023 investigative series, “American Dream for Rent,” which exposed the bulk purchase of not only distressed properties but also starter homes crucial for first-time buyers.

While some corporations have not directly addressed the findings, others have indicated their commitment to contributing to local communities. However, the overall impact on housing affordability and availability remains a pressing concern. Those most impacted are looking for protection from elected leaders to address the implications of corporate landlords on Atlanta’s housing crisis.