Landlords and Housing Quality in Rural Georgia: Assessing the Relationship

Abstract

Landlords play a key role in maintaining the quality of rental properties. Similarly, over the last decade, the growth of financial instruments such as real estate investment trusts (REITs) along with widespread use of LLCs allow landlords to consolidate holdings with little local oversight on housing quality. Research on both these trends has focused mainly on urbanized areas. Rental properties are also common in many rural communities, but patterns of property ownership have been understudied. This article draws from community-generated data on local housing conditions and property records to describe patterns of property ownership in five rural Georgia communities using exploratory statistical and geographic analysis. We then use statistical models to assess how housing quality is related to landlord characteristics including landlords’ locations, number of total holdings, and LLC status. Our analysis finds that large, corporate ownership is limited in these communities, and that property ownership is largely local or regional, commonly including owners residing in the Atlanta metropolitan area. We also identify that properties owned by landlords with five or more properties have a significantly greater risk of dilapidation. Policies that support rural communities’ assessment of local property conditions and increase tenant protections may improve local affordable housing options.