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Do the majority believe that 3 companies owning 19,000 homes between them in a particular city is harmful/undesirable behavior? Why? There's nothing obviously b
by narcraft 3y ago
Do the majority believe that 3 companies owning 19,000 homes between them in a particular city is harmful/undesirable behavior? Why? There's nothing obviously bad about that fact alone. How many houses are in Atlanta? The possibility that there are hundreds of LLCs shared between these 3 companies seems a bit suspect on the surface, but I could see how they could be simply acquiring smaller companies naturally. Idk how difficult it is or isn't to consolidate smaller LLCs into larger ones, but the implication of the article seems to be that this is a deliberate tactic to limit the amount of money these companies can be sued for in any one given case. Maybe, but would need more details to see that this is clearly what is happening and how much harm it is causing to aggrieved tenants.
- bombcar 3y agoI dare say the majority of renters feel the "rent is too damn high" - I've rarely found someone wishing they could pay more rent for what they're currently in (usually if they can afford more rent they move to something bigger/better). So the missing link is somehow proving the causality between "rents are high" and "3 companies own 19,000 rentals". That may seem obvious but could be very difficult to prove, especially as it may not be correct. Walmart owns 25% of the grocery business in the USA - does anyone really think grocery prices would go down if they divested? (It may still be better for society for them to do so, lowest price is not the only measurement, of course.)
- bequanna 3y agoYea, I don’t think the LLC liability game is that big of a deal. First, most of these companies will hold large liability insurance protection. But also, if someone sues and can prove negligence they can go further up the chain to the individual holding companies making the LLC shell game irrelevant.