Examining the experience of renters of corporate-owned single- family properties to develop policy recommendations for preserving housing quality and reducing risk of displacement.
Predatory lending practices targeted at BIPOC communities ahead of the foreclosure crisis caused a disproportionate number of families of color to lose their homes in 2008 and 2009. As a result, homeownership rates for these communities have plummeted, and large investment firms have purchased a significant number of foreclosed properties for long-term rental units. These communities already faced higher rates of eviction and substandard housing conditions, both of which may be further worsened by the influx of corporate landlords. Family Housing Fund is an experienced community convener in the Minneapolis area and has led efforts to address the foreclosure crisis and rising eviction rates.
Family Housing Fund will examine the experience of households living in corporate-owned single-family rentals, management and maintenance trends in these properties, and how local leaders should respond to the rise of institutional investor-owners. To do this, Family Housing Fund staff and partners CURA and Inquilinxs Unidxs por Justicia will use a combination of surveys, interviews, and/or focus groups to gather qualitative data on the physical conditions of units, past maintenance, management responsiveness, and other topics from more than 300 renter households. They will also examine data on permitting, code violations, and eviction filings to gather further insight on these topics.
Family Housing Fund will publish findings in a report featuring policy recommendations developed in collaboration with the City of Minneapolis. This research will be critical for the city as they develop an anti-displacement strategy, explore a Community Opportunity to Purchase policy, and convene a working group to consider a rent-stabilization strategy. The findings will also be important for developing other tenant protection and out-of-state investor licensing policies in Minneapolis and other cities that are facing an influx of investors.