Veritas Investments owns nearly 200 buildings in the city. It’s been a target for tenant advocates, who accuse the company of building a business model that relies on pushing tenants out of rent-controlled units so they can be re-rented for much more. Veritas disputes the accusations that is “hostile or negligent” toward tenants.
In their 2018 mayoral campaigns, former state senator Mark Leno and Supervisor Jane Kim emphasized the role of speculators in driving gentrification and displacement in San Francisco. A tax or lawsuits would target ‘flippers’ to protect tenants and rental housing. A 2014 measure failed. But S.F. voters may again be asked again whether speculators should be taxed.