Who are Burlington’s Largest Landlords?

After a year of research I’m proud to share my research around housing in Burlington. This map shows which landlords own at least 100 beds and how much they own. If you want to look at a full screen map, click here.

In a town where 60% of residents own $0 housing wealth, the wealth gap continues to grow, leaving a few hundred wealthy landlords with immense wealth, while the vast majority of residents have little or no wealth at all. In total, property owned by these 27 landlords, just in Burlington, is conservatively valued at $1.23 billion dollars. Yes, you read that right. They own over HALF of all housing units in the city and over 40% of all beds, totaling 16,600 beds and 8,600 total units of housing.

Even if we look just at large for-profit and non-profit landlords, (we can talk about the immense influence UVM and Champlain College exert over our rental costs another day) the wealth these private individuals and organizations own, and number of housing units they control, means a handful of folks exert enormous influence over most of our lives.

The true ‘market’ value is likely upwards of $300 million, but the data is harder to parse as non-profits aren’t always assessed like for-profit buildings.

The 23 largest private, for-profit landlords own nearly $400 million in property, with a median personal wealth of $11 million. They own over 3,101 units and 6,056 bedrooms, or 19% of all units and 15% of all bedrooms in the city.

How do we, as tenants, gain control when a handful of individuals have such influence over our lives? By working together, through solidarity, and forming a tenants’ union. While we may not have much wealth we do have numbers – in fact if all renters voted, we would be easily able to vote for rent control, better enforcement, swifter and harsher penalties when landlords fail to act, public lawyers to represent us, and other rent and tenant protections.

Who Funds Mayor Weinberger’s Campaigns?

Every election cycle, local news organizations mention that Mayor Weinberger has strong financial connections to the developer, landlord, and real estate communities. But how strong are those connections? By scouring old campaign finance records, along with current finance reports, I have discovered that more than half of Miro’s campaign contributions, $150,000, come from local businesses, developers, landlords, folks in the housing community, and lawyers.

I believe that this sort of money can end swaying policy and stacking our commissions in ways that consolidate power, with 40% of our commissioners coming from business owners, developers, landlords, real estate professionals, and lawyers. While I cannot talk for Miro, in my own city council campaign I felt the pull of wealthy donors. A wealthy friend of mine donated $800 to my small campaign, about 16% of my total contributions. I was incredibly grateful to this person, and when they had a suggestion about my campaign or policy, I was willing to listen, even if I didn’t always agree.

When Mayor Weinberger is surrounded by commissioners who are also key donors, are opportunities being missed for commissions to recruit members of the community who may not be able to make political contributions, who may have a very different Burlington experience than those with wealth and power?

Note: I can share my data upon request, but have decided it’s best to keep individual names private.