Three months after the Biden administration unveiled a non-binding "Blueprint for Renters Bill of Rights" that was applauded by corporate landlords for doing little to rein in unfair rent increases and evictions, a new report by the government watchdog group Accountable.US showed on Monday that those same property owners reaped enormous profits in 2022 as they demanded more of their tenants' incomes in rent and excessive fees.
The group found that the six biggest property management companies in the U.S. — Starwood Property Trust, Mid-America Apartment Communities (MAA), Invitation Homes, AvalonBay Communities Inc., AMH and Tricon Residential — brought in $4.3 billion in net income last year, an increase of more than $1.3 billion from 2021.
