000			01897nam a2200169 4500
999			_c509993 _d509993
008			190712b ||||| |||| 00| 0 eng d
100			_aTravis, Adam _97151
245			_aThe organization of neglect: limited liability companies and housing disinvestment
260			_c2019
300			_ap.142-170.
520			_aSociological accounts of urban disinvestment processes rarely assess how landlords’ variable investment strategies may be facilitated or constrained by the legal environment. Nor do they typically examine how such factors might, in turn, affect housing conditions for city dwellers. Over the past two decades, the advent and diffusion of the limited liability company (LLC) has reshaped the legal landscape of rental ownership. Increasingly, rental properties are owned by business organizations that limit investor liability, rather than by individual landlords who own property in their own names. An analysis of administrative records and survey data from Milwaukee, Wisconsin, demonstrates that signs of housing disinvestment increase when properties transition from individual to LLC ownership. This increase is not explained by selection on property characteristics or by divergent pre-transfer trends. Results affirm that real estate investors are responsive to changes in the legal environment and that the protective structure of the LLC facilitates housing disinvestment in Milwaukee. Elaborating the role of real estate investors can deepen accounts of neighborhood change processes and help explain variation in local housing conditions. Ultimately, public policies that enable business operators to circumscribe or reallocate risk may generate unintended costs for consumers and the public. - Reproduced.
650			_aUrban sociology _96998
650			_aDisinvestment _96999
773			_aAmerican Sociological Review
906			_aHousing
942			_2ddc _cAR