A recent study led by Taylor Shelton, a geographer at Georgia State University, has uncovered that nearly 11 per cent of all single-family homes available for rent in the central counties of metro Atlanta are controlled by just three corporate landlords. These findings, detailed in the article “Horizontal Holdings: Untangling the Networks of Corporate Landlords”, published in the Annals of the American Association of Geographers, identify Invitation Homes, Pretium Partners, and Amherst Holdings as the key players holding over 19,000 rental properties. This concentration of ownership, according to Shelton, grants these companies considerable market influence, particularly in specific neighbourhoods where their properties are densely clustered.

Shelton, an assistant professor in the Department of Geosciences at Georgia State, collaborated on this research with Eric Seymour from Rutgers University. Their investigation reveals corporate landlords’ significant presence and impact in metro Atlanta, especially in the wake of the 2007 foreclosure crisis and the COVID-19 pandemic, which saw many small landlords and homeowners selling off their properties. These corporate entities often operate through numerous limited liability companies (LLCs), which complicates the tracing of property ownership and shields the parent companies from direct legal challenges by tenants. Shelton notes that these large landlord firms manage over 190 LLCs across the core counties of Fulton, Clayton, DeKalb, Gwinnett, and Cobb.

The structural complexity within these corporate landlords means tenants often face layers of management when issues arise, obscuring the real decision-makers and reducing tenants’ leverage. This situation is exacerbated by the lack of stringent tenant protections in Atlanta, which is identified as one of the largest markets for such corporate landlord activity in the United States. The scale of investment by these corporate landlords in Atlanta surpasses the combined investments in the next two or three largest U.S. markets. This underscores the urgent need for stronger tenant protections and should serve as a call to action for policymakers and advocates.

Shelton and his team aim to democratise their investigative methods, making them accessible to the public to encourage transparency and accountability in property ownership. This initiative seeks to equip individuals with the necessary tools to conduct similar analyses, irrespective of their technical skills, by simplifying the investigative process and focusing on the availability of relevant data. This approach not only highlights the growing influence of corporate landlords in key urban areas but also provides a potential pathway for more informed tenant activism and policy advocacy, empowering individuals to make a difference in their communities.

More information: Taylor Shelton et al, Horizontal Holdings: Untangling the Networks of Corporate Landlords, Annals of the American Association of Geographers. DOI: 10.1080/24694452.2023.2278690

Journal information: Annals of the American Association of Geographers Provided by Georgia State University