Americas two largest corporate landlords just merged - making them the single largest landlord in the country with over 82,000 homes. And their CEO - Stephen Schwarzman - is a close partner and friend of Trumps. Schwarzman - Blackstone's CEO which created, controls and owns Invitation Homes - leads Trump's Economic Advisory Council and is close counselor Trump.
If you rent a home from Invitation Homes or Waypoint Homes your rent is likely to increase.
The merging companies both have a track record of high rent increases, shifting maintenance costs onto tenants that are usually a landlords responsibility, and being incredibly irresponsive to tenants needs. Why? Their strategy is buying out thousands of homes in bulk in a single day (denying thousands the opportunity to buy in their own neighborhood who can't compete with billion dollar corporations), and then bundle the rents into mortgage backed securities to be placed on the stock market.
In short, unlike a normal landlord, this landlord has a permanent obligation to consistently and aggressively increase rents and minimize maintenance costs to make a profit for his shareholders.
Rents in California have spiraled out of control and Invitation Homes/Waypoint Homes (aka Starwood Waypoint) is only getting bigger. We cannot stand idle as our neighborhoods get bought out by Wall Street, families are displaced and entire communities are uprooted. Stephen Schwarzman's connection to Trump only signals clear and ongoing support by the federal government.
Whether you are a Invitation or Waypoint Homes tenant or not, sign the petition for a moratorium on rent increases to hold Wall Street landlords Stephen Schwarzman accountable!