I live in New York City and I’ve had my fair share of unpleasant landlords (from withheld security deposits to unannounced utility shut-offs to ignored cockroach infestations), but I hadn’t heard of most of these names until recently.
But corporate landlords like these play a big role in our nation’s housing crisis. They buy up existing apartment buildings and develop them into more expensive properties, too often at the expense of current tenants and surrounding communities.
Many corporate landlords also shell out millions of dollars to lobby politicians and fight against tenant protections like rent stabilization, eviction moratoria, and more. Even now, as the housing crisis worsens and inflation forces people to choose between paying rent and buying groceries, corporate landlords are putting profits ahead of people.
Barry Sternlich, the CEO of Starwood Capital Group (the largest multifamily housing unit owner in the United States), has said: “When it’s really ugly, it’s a good time to invest.” In the past two years alone I’ve seen landlords jack up rents again and again. I want to see them show genuine care for people and families who need housing.
Whether we’re renters or homeowners, living in big cities or suburbs, we all need safe, affordable, comfortable housing. One of the ways we get there is by standing up to the corporations that are getting rich by preying on renters. Help us spread the word about these and other harmful corporate landlords who are responsible for our housing crisis – the more people who know these names, the better we can organize against them.
Have a horror story about your landlord? Let us know – reply to this email or comment on our Instagram post.
