Thu Sep 05 16:56:46 UTC 2024: – Blackstone is the largest alternative asset manager in the world, with over $1 trillion in assets under management.
– A report highlighted Blackstone’s residential real estate buying spree in regions facing housing shortages to profit from the affordable housing crisis.
– Blackstone allegedly leveraged RealPage’s software to hike rents and evict tenants.
– Blackstone hiked rents in San Diego properties by an average of 38%.
– Blackstone ended its eviction moratorium and plans to potentially evict tenants with outstanding rent balances.
– The report recommends limiting rent hikes to 3% annually, offering relocation assistance, and helping tenants behind on rent with flexible payment plans.

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