New homeownership opportunities for renters
Earlier this month, The Port announced it will purchase 194 single-family homes currently owned by an out-of-town, institutional investor to prevent many Cincinnati renters from possible eviction. For several years, out-of-town investors have been buying low-cost single-family homes and renting them at high monthly rates. The Port’s intent is to create a pathway for current renters to become owners of their homes.
The Port will work closely with several non-profit, community support organizations, each of which has voiced its support of this acquisition by The Port.
“These institutional investors are fundamentally changing the landscape of single-family housing in Hamilton County, so we are relieved The Port is stepping in to purchase properties whose occupants frequently face increased rental rates, threats of eviction, or maintenance requests that are regularly ignored,” said Rachel Hastings, executive director of Price Hill Will.