News Summary

U.S. Senator Jon Ossoff is probing Georgia’s housing market, focusing on the role of out-of-state corporate landlords. This investigation comes in response to rising home prices and diminishing affordable housing options. Ossoff is targeting four major corporations to understand their influence on homeownership and rental prices in Georgia. With corporate entities owning a significant portion of rental homes, the inquiry seeks transparency and accountability in property acquisitions and rental practices that affect local families.

Atlanta, GA

U.S. Senator Jon Ossoff is initiating an investigation into Georgia’s housing market, specifically targeting the influence of out-of-state corporate landlords. This inquiry aims to address concerns regarding the rising home prices and the decreasing availability of affordable housing options for families in the state.

The investigation will focus on four major corporate landlords: Invitation Homes, Main Street Renewal, Tricon Residential, and Progress Residential. Ossoff’s recent announcement highlights the adverse impact of these large-scale property buyers on Georgia families grappling with the challenges of renting and homeownership. As part of the investigation, the senator has sent formal inquiries to the four companies, seeking comprehensive information about their property acquisitions in Georgia, business practices, and fee structures.

Specifically, Ossoff is looking for details regarding the total number of single-family homes owned by these companies, the fees charged to renters, and their involvement in acquiring homes from foreclosure. This inquiry comes in response to trends indicating that corporate entities are significantly impacting the housing landscape in Georgia.

A report from the Government Accountability Office reveals that corporations currently own around 25% of the single-family rental homes in the metro Atlanta area. Additionally, the Atlanta Regional Commission has noted the strong presence of corporate landlords in the region, with Invitation Homes and Tricon Residential being particularly prominent, as outlined in a report from October 2024.

The Atlanta Business Chronicle has also stated that American Homes 4 Rent oversees a considerable share of rental properties in metro Atlanta, managing over 5,800 homes. Data from county reports indicates that Gwinnett County has nearly 10,000 corporate-owned single-family rentals, marking it as the area with the highest concentration of corporate landlords in the region. Other counties with notable figures of corporate-owned rentals include Henry, Cobb, Fulton, Paulding, DeKalb, Douglas, and Cherokee, with property counts ranging from approximately 5,800 to 2,472 homes per county.

Previous investigative efforts have highlighted the ways in which institutional investors disrupt Atlanta’s housing market. These investigations have documented instances where corporate landlords have displaced potential homebuyers while simultaneously driving up both rental and purchase prices. As such, Ossoff’s inquiry appears to be motivated by a need to explore the dynamics between corporate ownership and housing accessibility.

Experts in the housing field have observed that corporate landlords hold a significant share of the rental market. For example, Invitation Homes alone is reported to own more than 7,800 homes in metro Atlanta. An essential part of Ossoff’s investigation will delve into how these corporate entities may utilize aliases and limited liability companies (LLCs) to obscure ownership and hinder transparency for residents.

Concerns also arise regarding certain practices of corporate landlords, including the charging of high fees, neglecting property maintenance issues, and higher eviction rates compared to private landlords. The CEO of the National Rental Home Council has commented on the ongoing housing challenges, stating that these issues should not be solely blamed on corporate landlords, but rather understood in a broader context of housing scarcity.

Moreover, historical reports illustrate that a considerable portion of rental properties controlled by these corporations directly affects access to homeownership, predominantly impacting minority communities across Atlanta. Ossoff’s investigation will analyze the increased market power of these corporations, which have managed to concentrate property ownership in select neighborhoods more than in the past.

It is worth noting that the Federal Trade Commission previously reached a settlement with Invitation Homes amounting to $48 million, due to allegations of imposing unlawful fees and undermining tenant protections, particularly during the ongoing challenges posed by the pandemic.

This latest investigation led by Senator Ossoff underscores a significant concern for Georgia residents: the intersection of corporate activity in the housing market and the overall impact on local communities’ ability to secure affordable housing.

Deeper Dive: News & Info About This Topic

• Patch: Corporate Landlords Ga Focus Jon Ossoff’s Housing Probe
• AJC: Ossoff Probe of Investor Ownership in Housing
• 11Alive: Ossoff Announces Investigation into Companies Purchasing Homes
• Wikipedia: Housing in the United States
• Encyclopedia Britannica: Housing