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Why U.S. renters are taking corporate landlords to court
(www.cnbc.com)
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this post was submitted on 05 Feb 2024
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There are times that a corporate entity of some description is extremely useful. The issue is for-profit companies.
A simpler solution is to add a tax, based on the property value for for-profit companies. For niche situations, the effect of this will be annoying but not devastating. For companies dedicated to sucking money out of housing, it will hurt them badly. Maybe have it tick up 0.5% of the property a year till it's 5%. Slow enough not to cause a massive shock to the market, but large enough to force a change.
An obvious example of a useful company owned housing situation is a set of apartments. However, here a non profit would work even better.
As for valid for-profit ownership, it does happen. E.g. I know of a veterinary practice that owns several houses. They used them to provide subsided housing to staff, close at hand. They also allow them to house mid to long term locum staff close to the practice. Everyone wins from this arrangement.
I dunno if I want my employer to also be my landlord. It might have worked well for that specific case, but it's easy to see how it could fall apart.
If you're on a 3 month or so contract, it makes sense. It's too long to deal with hotels, but too short for proper rentals.
Basically, there are some legit cases for property ownership. The trick is to kill the leaches, without causing too much damage elsewhere.