Blackstone is one of the world’s largest private equity firms. Blackstone made big money in the last housing bubble and now is cashing in again to make lots more. It is buying up housing and real estate all over the world and quickly becoming one of the largest landlord’s in our cities. They are raking in the profits. But at the expense of our families and communities. They buy up our foreclosed homes for cheap, kick out the residents, charge exorbitant rents, fail to do proper maintenance and exclude people of color and immigrants!
Our international demands are below and will be paired with local demands in each city.
Our International Demands on Blackstone
1. Stop Buying Our Occupied, Foreclosed and Subsidized Housing
•Do NOT destabilize our communities by buying homes that should be owned by individuals, the government or local entities.
•End the purchase of homes owned by banks rescued with public money or homes that were purchased with sub-prime loans.
2. No Unjust Evictions
•Stop unjust evictions of homeowners or tenants in purchased properties
•Stop forcing tenants out of homes due to harassment, your failure to make repairs and charging unjust fees.
3. Affordable Rents
•Do not charge unfair rents
•Do not make people pay more than one third of their income to housing
•Ensure that at least 25% of all Blackstone housing in a city is affordable to poor people who make 0 to 30% neighborhood median income
4. Quality Conditions and Sustainability
•Renovate all purchased homes to a high quality
•Maintain all properties in good condition
•Make prompt and quality repairs
•Ensure all utility systems and materials used in building and repairs are sustainable
5. No discrimination
•Do not discriminate against people of color or immigrants including by using unfair prohibitions regarding former incarceration or arrests, and/or immigration status.
•Allow equal access to Blackstone homes for all people regardless of race, nationality, age, gender, sexual orientation, disability, family status, immigration status, former incarceration, eviction history or credit history.
•Provide responsive and quality customer service
•Provide full name and contact information for one consistent person from Blackstone’s property management company who has full authority to address tenant’s issues promptly and effectively
7. Transparency of information
•Provide to the public business and industry information including:
•Names of all the companies Blackstone has any ownership in/control over and what properties and real estate they relate to and how
•Terms of purchase of all housing/land/buildings purchased
•Regular updated list of which properties are securitized, and who are the investors including banks that put up any money
•Regular updated list of properties that are directly or indirectly managed by Blackstone worldwide
•Regular updated list of all those evicted from each property and why (names can be withheld if it is required by law)
•List of who’s application was denied and why (names can be withheld if it is required by law)