Sunday, July 3, 2016

When the neighborhood is owned by billion-dollar companies

http://www.naplesnews.com/business/real-estate/385368341.xhtml

Living in a transient neighborhood can be frustrating for homeowners, these large companies are renovating homes though and it time it should level out. 

The corporate purchases have spread through Piedmont Park and surrounding neighborhoods, where the percentage of renters rose from a bit over 10 percent to more than 35 percent within a decade. Piedmont Park homeowners complain that the result is more transient neighbors, less engagement at homeowners' meetings and difficulties reaching absentee corporate landlords.

Several homeowners have said they're considering selling their homes because there are so many renters now, she said.

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