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Value-Add, Screening, and the Wealth Gap
Landlords call it "value-add," and raising rent $100 to $200 a month after new cabinets and a dog park is the same move the industry has run for decades. Sam Froerer calls his own company "experience-add" instead, telling Jerremy Alexander Newsome and Dave Conley that renters need income at two-and-a-half times rent just to qualify. Insurance per unit in Florida and Texas tripled from $600 to $3,000 a year, reshaping where he invests. A fire that started on one resident's porch burned down twenty units in a single night. Sam also floats a REIT-style model where part of every rent payment buys…
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