News Summary
U.S. Senator Jon Ossoff has launched an investigation into out-of-state corporations buying single-family homes in Georgia, amid rising concerns over increased rental prices and tenant mistreatment. Targeting four major companies, Ossoff aims to address the alarming trend of corporate ownership of homes, particularly in metro Atlanta, and its impact on local residents. The senator encourages tenants facing issues with corporate landlords to reach out for support, as the situation contributes to the ongoing housing crisis in the state.
ATLANTA, GA
U.S. Senator Jon Ossoff has initiated an investigation into large out-of-state corporations that are purchasing single-family homes in Georgia. This action comes amid rising concerns that these corporate acquisitions are contributing to increased rental prices, mistreating tenants, and displacing homeowners.
Senator Ossoff’s investigation specifically targets four companies that collectively own thousands of homes in the state. These firms have been issued a set of more than a dozen questions and are required to respond by July 1. The senator has also encouraged tenants feeling mistreated by corporate landlords to reach out to his office for support.
The senator’s investigation was spurred by a report from a Georgia State University professor, which revealed that over 30% of single-family homes in the metro Atlanta area are owned by out-of-state companies—nearly ten times the national average. This trend is extending beyond metro Atlanta, impacting other parts of Georgia as well.
According to housing maps, certain counties in Georgia are seeing significant corporate ownership of single-family homes. Notably, Henry County has more than 64% and Paulding County exceeds 78% corporate ownership in this home segment. The uptick in corporate purchases is alarming, as it highlights a shift in the housing landscape that may not be beneficial for local residents.
The average rent in Atlanta currently stands at approximately $1,758, with single-family homes witnessing particularly high rental costs. Many housing advocates have criticized the state’s tenant protection laws as insufficient, allowing landlords to impose substantial rent increases and additional fees. This creates a financial burden for families, often forcing them to dip into their savings or face the threat of displacement.
As the investigation unfolds, Ossoff emphasizes that Georgia’s housing crisis cannot merely be attributed to basic supply and demand factors. He asserts that the situation is being exacerbated by a few major corporate players dominating the market, which further strains affordable housing availability and tenant rights in the state.
The National Rental Home Council, an association representing corporate landlords, has defended these companies’ roles within the housing market. They argue that these firms invest in community renovations and provide quality housing options, claiming that their presence is beneficial for the market overall.
The current scrutiny of corporate home purchases coincides with broader parental concerns about proposed federal spending cuts that could have a detrimental effect on programs supporting more than one million children statewide. This financial tension highlights the need for effective policy responses to address both housing availability and financial support for families.
Senator Ossoff’s inquiry currently targets four specific corporations: Invitation Homes, Main Street Renewal, Tricon Residential, and Progress Residential. Reports and complaints from Georgians have been flooding into Ossoff’s office regarding their experiences with these corporate landlords, further motivating his investigation.
This investigation and its intended outcomes align with Ossoff’s overarching goals to enhance affordable housing availability and safeguard renters within Georgia. The ongoing housing challenges underscore the importance of regulatory oversight in a rapidly changing market.
In related developments, the Georgia Public Service Commission and Georgia Power have reached a deal to freeze base electric rates for the next three years, an acknowledgment of the financial pressures faced by many residents amid the ongoing housing crisis.
Deeper Dive: News & Info About This Topic
HERE Resources
Senator Ossoff Investigates Out-of-State Corporate Home Ownership in Georgia
Senator Ossoff Investigates Rising Home Costs in Georgia
Additional Resources
- Fox 5 Atlanta
- Wikipedia: Housing in the United States
- The Atlanta Voice
- Google Search: Georgia housing issues
- Grice Connect
- Google Scholar: Corporate landlords Georgia
- Atlanta News First
- Encyclopedia Britannica: Real Estate Market
- Patch
- Google News: Jon Ossoff housing investigation
Author: STAFF HERE ATLANTA WRITER
ATLANTA STAFF WRITER The ATLANTA STAFF WRITER represents the experienced team at HEREAtlanta.com, your go-to source for actionable local news and information in Atlanta, Fulton County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as vibrant music festivals like Shaky Knees and Music Midtown, major cultural celebrations including Dragon Con and the Atlanta Film Festival, and iconic sporting events like the Peachtree Road Race. Our coverage extends to key organizations like the Metro Atlanta Chamber of Commerce and the Atlanta Convention & Visitors Bureau, plus leading businesses in logistics, beverages, and retail that power the local economy such as Delta Air Lines, The Coca-Cola Company, and The Home Depot. As part of the broader HERE network, including HEREAugusta.com and HERESavannah.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
