Senate Committee on Banking, Housing, and Urban Affairs. Last August, the CEO of The Port of Greater Cincinnati testified before the U.S. Senator Sherrod Brown (D-Ohio) said his office is looking into legislative fixes to address large private equity firms neglecting property maintenance. VineBrook also has properties in Columbus and Dayton. We view this latest development as an opportunity to refocus our efforts and we remain committed to providing safe, functional, and affordable single-family rental homes to residents to help set them on a pathway to homeownership and a better financial future.”Ī study commissioned by the company last month says VineBrook rents are lower than the Cincinnati market average, and that Vinebrook spent $28.7 million in rehabilitation, repairs, and property taxes on its properties over the last 12 years. Since beginning our operations in Cincinnati 15 years ago, VineBrook has worked diligently and directly with the city to address business issues and provide safe and affordable housing. "VineBrook has had the opportunity to address ongoing issues, but instead continues to fall short."Ī VineBrook spokesperson declined an interview but provided a statement via email: “We disagree with allegations in the City’s complaint and will vigorously defend our company, employees, and reputation. “This administration is committed to holding problem property owners accountable," said City Manager Sheryl Long in a statement. The lawsuit ended in a settlement, but the new complaint alleges VineBrook violated several parts of the settlement agreement. At the time, the city was aware of only 16 LLCs and only named those 16 in the lawsuit.
#VINEBROOK HOMES COLUMBUS MARKET CODE#
The city sued VineBrook in 2021 over hundreds of thousands of dollars in past due fines and fees related to health and building code violations. The ownership is split between at least 62 LLCs registered throughout Ohio, a practice the lawsuit says is a way to intentionally avoid city oversight. VineBrook owns at least 964 properties in Cincinnati, and more than 3,000 in Hamilton County overall. "VineBrook's neglectful behavior has caused significant harm to renters, and the city of Cincinnati will fight back with everything we have to protect our residents." “We have no tolerance for investors who come into Cincinnati, let properties degrade and exploit tenants," said Mayor Aftab Pureval in a statement. The city is asking a Hamilton County judge to appoint a receiver to take possession of the properties. The city also says VineBrook violated the terms of a settlement in a previous lawsuit. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.Īs a matter of policy, BBB does not endorse any product, service or business.The city of Cincinnati is suing institutional landlord VineBrook Homes, saying their business model is a public nuisance. BBB Business Profiles are subject to change at any time. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.īBB Business Profiles generally cover a three-year reporting period. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. BBB Business Profiles may not be reproduced for sales or promotional purposes.īBB Business Profiles are provided solely to assist you in exercising your own best judgment.
0 kommentar(er)
