With Billions of Dollars in Rental Assistance Still Available, Corporate Landlords Continue with Eviction Filings
Private equity firms and other corporate landlords filed to evict at least 44,762 residents in counties throughout Georgia, Florida, Texas, Arizona, Tennessee, and Nevada since the federal eviction moratorium was lifted. Corporate landlords have filed to evict at least 109,780 families this year and at least 155,019 since the start of the pandemic.
In January 2021, Congress appropriated over $46 billion in direct financial assistance to support renters. Yet as of October 31,over $32 billion remains available to renters, according to the US Treasury Department.
In August, the US Supreme Court ended the federal eviction moratorium, which had helped keep families in their homes throughout the pandemic. Since then, corporate landlords have only become more aggressive in their eviction efforts, filing at least 15,035 evictions in September, 16,438 in October and 13,289 in November.
Corporate landlords were responsible for roughly 56% of all eviction filings in the three months following the end of the federal eviction moratorium.
“Many of these landlords are increasing their share of the U.S housing market, buying up homes, apartment buildings, and mobile home communities,” said Jim Baker, Executive Director of the Private Equity Stakeholder Project. “As we enter a critical new phase of the crisis facing renters, it is important that we remain vigilant to corporate landlord’s evictions of residents.”
– Georgia: In September, corporate landlords filed at least 18,982 evictions in Fulton, Gwinnett, DeKalb, Clayton, and Chatham counties between September 1 and November 30. Throughout these counties, corporate landlords were responsible for more than 77% of all evictions filed during this time period.
– Texas: Corporate landlords in Harris (Houston), Tarrant (Fort Worth), and Travis (Austin) counties filed at least 9,486eviction actions in the three months following the end of the eviction moratorium. After the eviction moratorium was lifted in September, eviction filings increased by 25% over the previous month. Between September 1 and November 30, corporate landlords were responsible for more than half of all eviction filings.
– Tennessee: In Shelby County (Memphis), corporate landlords filed at least 2,901 evictions between September 1 and November 30. Corporate landlords were responsible for at least 56% of all eviction filings in the county between these months.
– Florida: In August, corporate landlords filed at least 9,170 evictions in several counties throughout the state since the federal eviction moratorium was lifted. During this time, corporate landlords were responsible for at least 42% of all eviction filings.
– Nevada: Corporate landlords filed to evict at least 4,223 residents in Las Vegas between September and the end of November. Corporate landlords were responsible for 44% of all eviction filings since the eviction moratorium ended in August.
Some of the most notable filers in September, October, and November include:
Blue Magma Residential filed to evict at least 521 families in the three months following the end of the eviction moratorium.
Bridge Investment Group has filed at least 979 evictions across five states since the start of the year, of which, 519 – or 53% – were filed in the three months following the end of the eviction moratorium.
American Landmark Apartments/ Electra America filed to evict at least 497 families between September and November. In 2021 alone, American Landmark Apartments has filed to evict at least 1,178 families in Florida and Georgia.
Ventron Management filed at least 441 evictions since the end of the eviction moratorium. In October alone, Ventron Management filed 282 evictions.
Invitation Homes filed to evict at least 460 families after the eviction moratorium was lifted in late August. Invitation Homes has filed to evict 1,187 families in Florida and Georgia since the start of this year.
This behavior by corporate landlords has led to action by lawmakers. Chair of the House Committee on Financial Services Maxine Waters sent letters to dozens of the nation’s largest corporate landlords and top eviction filers during the pandemic – including Pretium Partners, American Landmark Apartments/ Electra America, Mid-America Apartment Communities, and Amherst Holdings – urging them to work with tenants to inform them of their rights and connect them with emergency rental assistance.
Waters’ letter followed Senate Banking Committee Chair Sherrod Brown’s request for a briefing by private equity firm Pretium Partners to talk about compliance with the CDC eviction moratorium and why the company is filing eviction actions at higher rates in majority-Black counties.
Top Filers, September-November (in counties PESP has tracked in FL, GA, TX, AZ, NV, and TN)
|Landlord||Total Filings (Sept – Nov)||Total Filings – Nov|
|Starwood Capital Group||175||135|
|Federal Capital Partners||144||46|
|Main Street Renewal||123||31|
|Blue Roc Premier||118||22|
|Amzak Capital Management||106||61|
|Priderock Capital Management||99||41|
|JWB Real Estate Capital||97||32|
|Harbor Group International||90||26|
|GoldOller Real Estate Investments||89||27|
|Equity Lifestyle Properties||88||20|
|American Landmark Apartments/ Electra America||83||20|
|Bell Partners, Inc.||83||17|
|Toro Real Estate Partners||81||18|
|White Eagle Property Group||77||9|
|Prism Multifamily Group||75||34|
|Asia Capital Real Estate Management (ACRE)||73||22|
|West Shore LLC||68||26|
|Northland Investment Corporation||66||23|
|Greystar Real Estate Partners||63||22|
|Westdale Real Estate Investment and Management||62||18|
|Mid-America Apartment Communities||61||22|
|Camden Property Trust||58||25|
|YMP Real Estate Management||46||14|