This year multinational landlords in the new single-family home rental industry say they plan to raise rents. David Singelyn, CEO of American Homes 4 Rent said, “In the 2015 rental season, we’re really seeing the ability to move rents.” Many American renters are already extremely burdened when it comes to housing costs, with about 25% nationally paying more than half their monthly income toward housing.
On May 12th 2015, Tenants Together released a report on the experience of tenants renting single-family homes from the three biggest Wall Street landlords in California: Blackstone/Invitation Homes, Waypoint Homes, and Colony American Homes.
Titled The New Single-Famiy Home Renters of California, the report includes policy recommendations and ways we can take action against rising rents and the consolidation of the housing market into the hands of Wall Street. Now more than ever we need to protect tenants and our communities.