FRESNO, Calif. (KSEE/KGPE) – The City of Fresno will soon examine how the increase in corporations owning rental properties in Fresno is affecting the people who live there, according to Councilmember Annalisa Perea.

The resolution was passed during the city council meeting on Thursday. According to the resolution, the study will examine the concentration of corporate residential ownership within the city’s housing market.

Perea said that in recent years, corporate and institutional investors have expanded their ownership in both single-family and multifamily housing across the state, and Fresno – which has seen this at a significant scale.

“This is about standing up for Fresno families and making sure our housing system works for the people and not just the pocketbooks of large corporations,” Perea said. “When corporate ownership goes unchecked, it can drive up costs and weaken the connection between landlords and the communities they serve.”

This resolution will evaluate potential enhancements to the Rental Housing Improvement Program, requiring the disclosure of who owns a property, and identifying whether properties are owned by individuals or corporate entities. It will also track the number of housing units owned by registrants and affiliated entities. It will also help develop recommendations to strengthen the city’s ability to respond to corporate ownership trends moving forward.

The city attorney’s office has been directed to return to the council within 75 days with findings and policy recommendations on how the resolution could be implemented