Fearing that the national ban on many evictions will suddenly end, Legal Action is asking the state s highest court to guarantee the ban stays until June 30
California companies are buying thousands of homes in Milwaukee. What does that mean for tenants? Listen 8 min MORE California companies have purchased some 6000 properties in Milwaukee for cheap, then rented them to vulnerable tenants. Photo by shisu ka/Shutterstock.
In Milwaukee, Wisconsin, 6000 rental properties now belong to out-of-state speculators, many who are located in California. They buy homes for cheap and then rent them to vulnerable tenants.
Compared to local landlords, out-of-state ones have higher rates of evicting tenants. That’s according to Cary Spivak, investigative reporter for the Milwaukee Journal Sentinel.
“They may or may not jack up the rent for the next guy. … If you have a local landlord, you have a better chance to say, ‘Look, I’m a little behind on rent because I had this bill or a child was sick. … Can you cut me some slack?’ You have a fighting chance. An ou
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A major increase in out-of-state companies buying Milwaukee properties has some worried how it could affect the people who live in those neighborhoods.
About 6,000 properties, or 14% of Milwaukee’s rental homes, are owned by out-of-state landlords, according to Marquette Law School’s Lubar Center for Public Policy Research and Civic Education. In 2015, that number was 4,600 and in 2000, it was 1,500.
In a recent article from the
Milwaukee Journal Sentinel, longtime investigative reporter Cary Spivak dives into why investors from across the country are buying up properties in Milwaukee.
“These companies have figured out it’s more profitable to go into a city and purchase in volume, many single-family homes or duplex’s, they want to have enough properties to make it worth their while,” he explains.