Financialization of housing and the right to adequate housing 2017, para. 33
Paragraph
Paragraph text
Many residential rental properties are now owned by bondholders or holders of public stock with no direct connection to properties. It is difficult to know who is accountable for human rights when the owner of housing is a multibillion dollar fund, bondholders, public stockholders or a nameless corporate shell. Tenants living in housing owned by absentee corporate landlords have complained of sharp increases in rent, inadequate maintenance and conditions as a result of substandard renovations that have been undertaken quickly to flip the home into rentals, and an inability to hold anyone accountable for those conditions.
Legal status
Non-negotiated soft law
Body
Special Rapporteur on adequate housing as a component of the right to an adequate standard of living
Document type
Special Procedures' report
Means of adoption
N.A.
Topic(s)
Economic Rights
Governance & Rule of Law
Year
2017
Paragraph type
Other
Reference
SR Housing, Report to the HRC (2017), A/HRC/34/51, para. 33.