Corporations have been buying homes in Harvest Ridge. They could be Real Estate Investment Trusts (REITs) or investment funds. They take advantage of tax loopholes. Their tenants may be hit with numerous additional charges. For a corporation, the incentive is profit, not “pride in ownership”.
Harvest Ridge is an established and reasonably well-kept subdivision with prices that are more affordable than some areas. That makes it an ideal place for corporate buyers who rent out homes. I myself have received at least four unsolicited contacts from people offering to buy my home — for cash, with no inspection, and no realtor fees. I suspect the calls were corporate buyers or opportunists hoping to resell to corporate buyers.
Here’s the problem for homeowners: Most renters may have little concern for the upkeep of their property and many/most of these corporate buyers may be headquartered out of state (absentee landlords), and they obviously don’t care, either. If you see a yard full of weeds or tall grass, there’s a good chance it’s a rental property.
Related story: “This block used to be for first-time homebuyers”. Then global investors bought in. Relates largely to a corporation Progress Residential.
Our existing Covenants do not specifically address rental properties (other than forbidding display of a “for rent” sign–which has been ignored) or the responsibilities of renters.
FYI, here are properties I have identified as rentals or corporate-owned, based on assessor records and web searches:
RM1 SFR PROPCO A LP
Headquartered, apparently, in Marietta, GA
Incorporated in Delaware
Apparently associated with FirstKey Homes
Info
536 Jubilee Lane
AH4R PROPERTIES TWO LLC
American Homes 4 Rent
Appears to be headquartered in California
Incorporated in Delaware
American Homes for Rent website
Read reviews/comments
7409 Vintage Cir
WGH Indiana LLC
West Granite Homes, incorporated in Delaware
Headquartered in England
Primary funder: MAN GLOBAL PRIVATE MARKETS (UK) LIMITED
7315 Autumn Ct
P4 SFR Property Owner 1 LLC
Apparently headquartered in Arizona
Incorporated in Delaware
7266 Plantation Lane
FKH SFR PROPCO H LP (First Key Homes?)
FirstKey Homes
Apparently headquartered in Georgia, incorporated in Delaware
website: homes for rent
Appears to be owned or in partnership with Cerberus Sfr Holdings III Gp, LLC
Appears to have been involved as defendant in several lawsuits by HOA’s.
Read customer reviews/comments.
956 Harvest Ridge Dr.
FKH SFR PROPCO 1 LP (First Key Homes?)
FirstKey Homes
Apparently headquartered in Georgia, incorporated in Delaware
website: homes for rent
Appears to be owned or in partnership with Cerberus Sfr Holdings III Gp, LLC
Appears to have been involved as defendant in several lawsuits by HOA’s.
Read customer reviews/comments.
7348 Autumn Court
HPA Borrower 2016 ML LLC
Apparently headquartered in Chicago
Incorporated in Delaware
993 Harvest Ridge Dr.
WGH Indiana LLC
West Granite Homes, incorporated in Delaware
Headquartered in England
Primary funder: MAN GLOBAL PRIVATE MARKETS (UK) LIMITED)
887 Harvest Ridge Dr
American Homes 4 Rent LLC
Withdrew Indiana certificate of authority in 2013
Headquartered in California
Rental properties website
Read reviews/comments
760 Harvest Ridge Dr
Progress Residential Borrower 7 LLC
Arizona headquartered
website: Homes for rent
Related Washington Post story
Yelp reviews
Read more reviews/comments
776 Raintree Dr
WGH Indiana LLC
West Granite Homes, incorporated in Delaware
Headquartered in England
Primary funder: MAN GLOBAL PRIVATE MARKETS (UK) LIMITED)
765 Abundance Ln
WGH Indiana LLC
West Granite Homes, incorporated in Delaware
Headquartered in England
Primary funder: MAN GLOBAL PRIVATE MARKETS (UK) LIMITED)
7356 Caldwell Ln
WGH Indiana LLC
West Granite Homes, incorporated in Delaware
Headquartered in England
Primary funder: MAN GLOBAL PRIVATE MARKETS (UK) LIMITED)
7342 Caldwell Ln