Global corporate landlordism and a new cycle of tenant contention

The article titled "Global corporate landlordism and a new cycle of tenant contention" is published in the Urban Studies journal, which focuses on urban issues and challenges. The authors, Lorenzo Vidal, Javier Gil, and Miguel A. Martínez, explore the shift in rental housing dynamics, particularly in light of the rise of global corporate landlords (GCLs) and their impact on tenant struggles. This work stems from a special issue addressing the struggles between GCLs and tenants, highlighting the growing conflicts amid a global housing crisis.

The article discusses how GCLs have gained prominence since the 2008 financial crisis, adopting aggressive property management practices that have led to increased tenant contention. GCLs are characterized by their concentration of property and power, which has galvanized tenant organizations to mobilize against these landlords. The authors note that GCLs are not entirely global but operate across multiple countries, primarily in the Global North, where rental housing has evolved into a financial asset class.

GCLs source capital from institutional investors like pension funds and insurance companies. Their operations often focus on places where rental markets are deregulated, aiming for high returns. This financialization of housing has shifted the nature of how rental properties are managed, often prioritizing profit maximization over tenant welfare. The authors outline that the aggressive management strategies of GCLs have prompted tenants to formulate new demands and strategies to counteract these trends.

The article highlights how the emergence of GCLs has led to a new cycle of tenant contention, characterized by collective actions such as anti-eviction resistance and rent strikes. Tenant organizations are increasingly organizing across multiple sites, fostering solidarity among diverse tenant populations. These mobilizations have expanded from building-level actions to citywide campaigns, indicating a significant shift in the landscape of tenant activism.

The authors explain that the financialization of housing has transformed homes into commodities, undermining their role as places of residence. GCLs have adapted to this environment not just by responding to existing market conditions but by actively shaping them through policy frameworks and urban development agendas. This context has further exacerbated socio-economic tensions, as tenants are required to allocate a larger portion of their income to rent, highlighting issues of wealth extraction and social inequality.

The article discusses the emergence of new legal and policy frameworks in response to the rising power of GCLs. Recent measures have targeted the aggressive practices of these landlords, including rent controls and tenant protection laws. Examples include Denmark's 'Blackstone intervention' and Spain's Right to Housing Law, which mandate longer lease durations and limit rent increases. These developments signify a potential shift away from neoliberal policies towards a more socially responsible approach to housing.

The authors conclude by noting that while tenant movements face significant challenges, including legal and political obstacles, they are also finding new opportunities for organizing and solidarity. The rising visibility of GCLs has created conditions conducive to tenant mobilization, allowing for innovative strategies and alliances that challenge the status quo of housing commodification. This collective action may pave the way for broader reforms in housing policy and ownership structures across Europe.