Company bought hundreds of houses. Now, poor are getting ‘priced out,’ critics say

By Fred Clasen-Kelly, Anna Douglas and Julianna Rennie
The Charlotte Observer

Over the last decade, out-of-state rental companies have bought thousands of houses across Charlotte, raising rents in a city already struggling with a shortage of affordable housing.

For Angela Campbell the news still came as a shock earlier this year: Her landlord, Tricon American Homes, would not renew her lease even though, she said, she paid the $900 rent on time, in full, every month.

When Campbell called to find out why, she said, a Charlotte-based manager for Tricon told her she had to leave the three-bedroom house in west Charlotte, where her family has lived for the past four years, because the company wants to raise the rent.

Now, Campbell needs to find a new home.

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