The Real Deal Miami

Wall Street landlords make new rules

Corporate-run home rentals creates novel business model

October 27, 2014 05:15PM

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A home up for rent in Royal Palm Beach

A home up for rent in Royal Palm Beach

The entrance of corporate owners in the traditional small-scale rental market has improved the quality of housing stock, according to a trade group.

Washington, D.C.–based National Rental Home Council, created to create awareness about the new business model of corporate-run home rentals, suggested some guidelines this week, according to an article in the Palm Beach Post. Wall Street firm Blackstone, for example, has an estimated 1,300 properties in Palm Beach County through its Invitations Homes affiliate.

The recommendations include establishing rules on hiring contractors, creating dedicated emergency hotlines for renters and conducting routine inspections, the article said. [Palm Beach Post] – Jennifer White Karp

  • jim

    Government should not allow big cooperations such as these to buy single family homes as rentals. These are the same companies that took down the economy, the same corrupt companies, these companies are taking away properties from smaller investors who have been doing this for years. They hike up prices for primary home buyers who do not have a chance even if they get approved with a mortgage because the sellers prefer cash, which in turn makes home buyer having no choice but turn to rentals until this fad get old of them

    • jessica smalls

      I have to agree, this is wrong these companies want every type of investments which leave the smaller investors who make a living out of this stuck. The amount of properties these big companies are buying hikes up properties based on return on based on value or how the economy is, which means there is an artificial market. when they are buying the amount of homes they are regular home buyers as well can not compete.

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