Veritas Investments Inc. claims to be San Francisco’s largest landlord. It says it owns more than 230 rent-controlled buildings, many that were purchased from the infamous Lembi Group, the city’s previous king of landlords that wound up bankrupt after the 2008 housing bust.
Veritas tenants have sued the $3 billion corporation, accusing it of trying to boost profits by renovating vacated units for newcomers — overwhelmingly “young techies” from out of state, the CEO has said — while neglecting longtime renters’ living conditions. Veritas denies the allegations, saying that it responds to tenant complaints quickly and that the work is needed to preserve and enhance these aging structures.
It is difficult to vet many of these claims. But by layering various types of public records and analyzing the results we were able to discover a rise in tenant complaints, as well as building-code violations, after Veritas bought the properties connected to the lawsuit.
Our reporting is ongoing. For the latest, see our forthcoming spring 2019 print edition, which will be available at select retail outlets. Online posting will follow.
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In the meantime, here are other stories on the topic that have caught our eye.
- Rent Board Member’s Veritas Connection Under Scrutiny
- SF Weekly, May 1 2019
- (Follow-up to above story) Rules Committee Approves Rent Board Member With Veritas Link
- SF Weekly, May 20 2019
- I-Team investigates the largest landlord in San Francisco
- ABC News, Feb 2 2018
- EXCLUSIVE: Tenants living in squalid conditions in building owned by SF’s largest landlord
- 48 Hills, Jan 25 2018