An entirely new asset class of large institutional landlords was put to the test by Hurricane Harvey. Two such companies, Starwood Waypoint and American Homes 4 Rent, collectively own about 6,000 single-family rental homes in the Houston area, and estimate that hundreds were severely damaged and their residents displaced. But both firms stepped up to the plate, letting the hardest-hit renters out of their leases and returning their security deposits, and dispatching crews the day after to start repairing damaged dwellings.
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