Big investors evict tenants faster

“Instead, it seems like they’re contributing to housing instability in Atlanta, and possibly other places.” One of the nation’s largest firms, American Homes 4 Rent, and HavenBrook have filed eviction notices at 25 percent of the properties they own.

“My hope was that these private equity firms would provide a new kind of rental housing for people who couldn’t – or didn’t want to – buy during the housing recovery,” says Elora Raymond, the report’s lead author.

“Finding people these days to rent your homes is not a problem.” Smaller landlords, on the other hand, don’t tend to evict nearly as much as bigger firms.

The cost of eviction makes it the last option, says Diane Tomb, executive director of the National Rental Home Council, which represents institutional landlords.

In Fulton County, Ga., large institutional investors reportedly are up to twice as likely to file eviction notices than smaller operators, according to a newly released Atlanta Federal Reserve study.

David Reiss, a Brooklyn Law School professor specializing in residential real estate, speculates that smaller landlords tend to show more willingness to work with tenants who fall behind.

Source: Florida Realtors