Equiton’s strategy is to buy buildings where existing tenants pay below-market rent, and renovate units when those tenants move so they can be rented out at higher rates, generating profits for its more than 8,000 investors, said its vice president Lavelle Lindo. Lindo shared the business insights in an interview with a wealth management company posted online in 2022.
It seems like their business strategy is buying out places charging below market rates and renovicting the people living there. Demons.
That’s exactly what these places do. Met Cap is a huge one. They were “renting” units for 50% more than most others in my neighborhood.
The “renovations” are laminate floors, new paint, and new cabinet doors. Nothing remotely worth what they are asking.
I’m still floored that this country monetizes homes.
I’m still floored that this country monetizes homes.
The folks who made that possible want everything monetized, but I’m hopeful this way of thinking is on its way out, for a few reasons.
It’s crazy that our government just removed taxes for new apartment buildings, making it even more profitable for these corporations. I know we need to do something about the housing crisis but this just doesn’t seem right at all…
Tax the fuck out of these ghouls.
I don’t know what it is… but there is something different when the landlord is a member of the community you live in versus a faceless corporation. Theres something to think about… if members of the community are the owners, I’m pretty sure this kind of behavior wouldn’t be so rampant. You don’t care about those people if you aren’t in the same boat as them and big corp aren’t even people… no wonder everything is becoming shit everywhere.
The solution to the housing crisis is to just build more housing. Anything else just creates loopholes that people will exploit.
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