Property owners defend their rent increases by highlighting their role providing places to live at a time of soaring housing demand. Tenant advocates have accused investor-owned landlords of predatory pricing in the way they saturate certain housing markets, systematically increase rents tenants' rent and tack on fees to generate profits for their investors. And Starwood Property Trust, a major real-estate investment company, boasted of a "record" year in 2021, during which time its net income rose by one-third, to $492 million. Mid-America's profits more than doubled in 2021 to $550 million. Take Mid-America Apartment Communities, the largest multifamily housing owner in the U.S., with 100,000 units under its purview. During that time, their top executives saw raises of more than 20%, the group calculated. saw their combined earnings surge more than 50% last year to nearly $5 billion, government watchdog group Accountable.US found in a new analysis. The largest publicly traded property groups in the U.S. For many corporate landlords, however, 2021 tuned out to be a year of record profits, according to a watchdog group. Property owners that opposed a federal ban on evictions in the early days of the COVID-19 pandemic claimed the restrictions would leave them on the hook for billions of dollars in losses. MoneyWatch: The cost of rent is on the rise 03:21
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