Mega landlord Invitation Homes goes public, owns Chicago houses

Our clients rented a home offered by then newcomer landlord Invitation Homes in 2013 in Portage Park.  Around that time we saw many homes in the Chicagoland area bought, fixed up and rented out by the large firm established in 2012.

I watched an interview with the CEO of single family home rental company Invitation Homes on CNBC today.  The company raised over $1.5 billion in Tuesday's Initial Public Offering. Large private equity groups bought up real estate including single family homes after the mortgage and financial crash of 2008.  Typically single family homes were rented by former owners or small private landlords in smaller town areas (think college towns).  

Large private and now public companies buy thousands of single family homes and manage them much like multi-unit buildings.  As a tenant you often face the choice of renting from a private owner who often may live nearby or increasingly from a large corporation. Either can have pros and cons but you can bet that corporation will jack that rent up to the max every year (which in our client's case they have)!