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Resource Residential

"Greed is good!"

Evidently, the new corporate slogan for Resource Residential is, “Greed is good!”

According to a reliable source at Tamarlane, the property management company is planning a sneak attack and will impose rent increases of 20% or more on tenants some time this spring. The company plans on similar increases at other Resource Residential properties in Maine.

Resource Residential currently mismanages over 12,000 units in some 15 states.

My source at Tamarlane overheard a conversation in which the company said that tenants will not be informed of the increases until it is time to renew their leases. This surprise increase will be especially harsh on many of Tamarlane’s older tenants, most of whom live on a fixed income.  Also overheard is that company hopes many of the current tenants leave so they can be replaced with higher rent tenants.

The irony, of course, is that the Occupy Maine protesters in Portland have been vocal about greed on Wall Street when some of the worst forms of corporate greed are happening right here in their own backyards. Resource Residential is a shining  — tarnished? — example of the worst form of corporate greed, since many families will be uprooted in order to add a few bucks to the bottom line of a wealthy few.

Resource Residential, by the way, recently paid over $330,000 to settle an age discrimination lawsuit in which they were convicted of trying to fire older workers and higher younger employees to create a younger image.

Did we already say they are greedy bastards???