When Darren Clark bought his home in Henry County, Georgia, it was more than a personal milestone — it was a legacy.
“It means a great deal to own this and leave something for my family,” Clark told WSB-TV.
In just a few years, he’s watched the character of his neighborhood shift. “I’d say at least 60% of the homes around here are owned by corporations,” he said.
Clark’s experience is increasingly common across metro Atlanta, where large investment firms have quietly transformed the housing landscape.
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Investing firms own 19,000 homes
According to a study titled Horizontal Holdings: Untangling the Networks of Corporate Landlords by Georgia State University geography professor Taylor Shelton, just three corporations now own nearly 19,000 single-family homes in the region.
In counties like Paulding and Henry, corporate landlords own more than 12,000 homes, accounting for 11.2% and 9.9% of all single-family homes in those counties, respectively.
“This is unlike anything we’ve ever seen before in America when it comes to the single-family rental market,” Shelton said.
In the study, Shelton specifically writes, “[T]hese three firms control more than 19,000 single-family homes across the five core counties of Metro Atlanta, using an extensive network of more than 190 corporate aliases — registered to seventy-four different addresses across ten states and one territory — to hide their holdings behind a veil of secrecy and insulate themselves from liability.”
A national trend, a local crisis
Atlanta isn’t alone. Experts have actively tracked and reported the rise of corporate landlords in the U.S.
A report from the Government Accountability Office (GAO), Rental Housing: Information on Institutional Investment in Single-Family Homes, found that while institutional investors hold about 2%.) of the nation’s single-family rental stock overall, they have heavily concentrated their holdings in certain metro areas, distorting influence.
According to GAO estimates, institutional investors control roughly 25% of single-family rental homes in Atlanta, 21% in Jacksonville, 18% in Charlotte and 15% in Tampa.
When a handful of companies dominate local housing markets, the consequences can be severe.
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Shelton explains corporations can gain the power to influence rental prices, tack on hidden fees (sometimes referred to as “junk fees”) and often overlook essential property maintenance.
“So that means these companies are able to get away with a lot more than they would otherwise because there is no competition. They have essentially crowded out their competitors,” Shelton said.
A Georgia Tech study also found large landlords were 4 to 5 times more likely to have code complaints than their smaller counterparts.
As neighborhoods shift from owner-occupied to renter-dominated, local engagement often declines. Schools and community services that depend on long-term residency and homeownership may suffer. Additionally, individuals who own property in such areas may also see their interests drowned out by the better-resourced corporations dominating ownership in the area.
Tenants renting from large out-of-state firms may face more barriers when asserting their rights, especially with vague lease terms or slow maintenance responses.
Policy playing catch-up
In response to mounting concerns, U.S. Senator Jon Ossoff has launched a federal investigation into the practices of institutional investors in Georgia’s housing market.
While this could pave the way for policy reform, lawmakers have not yet established a timeline for potential legislation.
For homeowners like Clark, change can’t come soon enough. “It’s going to be a hard hill to climb to be able to dig out of these corporations owning so many properties,” he said. “They are going to keep snatching them up.”
As more neighborhoods transition into corporate-controlled rental zones, Georgia’s housing future hangs in the balance — and with it, the American dream of homeownership.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
